Tagged: shenzhen

December 16, 2021 @ 10:02 am By Omar Faridi  |  

Global Fintech firm MODIFI has announced $145 million in debt financing with existing bank partners Silicon Valley Bank and Solarisbank. The proceeds will be channeled towards addressing rising demand and help more SMEs with trading internationally on MODIFI’s digital platform. The COVID-19 outbreak has “negatively… Read More

March 6, 2021 @ 7:10 pm By Omar Faridi  |  

China’s regulatory authorities have reportedly been telling local banking institutions to “trim” their loan books during 2021 to guard against potential risks resulting from bubbles in domestic capital markets. This, according to an update from Reuters which cited sources familiar with the matter (on March… Read More

December 7, 2020 @ 7:27 am By Omar Faridi  |  

China is reportedly handing out around $3 million of digital yuan as JD.com notably becomes the first online platform to begin accepting the virtual currency. As first reported by CNBC, Chinese digital commerce company JD.com confirmed that it will become the first major online platform… Read More

September 17, 2020 @ 8:19 am By Omar Faridi  |  

Ping An Bank recently became the first Chinese financial institution to be named the world’s “best” digital bank at the Euromoney Awards. As mentioned in a release, Ping An Bank, which is a subsidiary of the Ping An Insurance Company of China, was named the… Read More

June 5, 2020 @ 1:54 am By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s reserve bank with around $3.2 trillion in assets, recently announced the second batch of Fintech initiatives that will take part in a pilot program involving new regulations. The pilots will take place in China’s capital, Beijing, and… Read More

May 1, 2020 @ 2:08 am By Omar Faridi  |  

Tencent Holdings Ltd., a Chinese multinational conglomerate holding company whose subsidiaries offer various Internet-related products and services, has introduced a blockchain accelerator program. Tencent, which is among the world’s most valuable companies and also one of the largest VC firms and investment corporations, says it… Read More

April 28, 2020 @ 9:31 pm By Omar Faridi  |  

The Bank of China, one of the four largest state-managed commercial banking institutions in the country with over $3 trillion in assets, introduced its very first Fintech-focused regulatory pilot initiative in Beijing in 2019. The bank now says it will further expand its regulatory pilot… Read More

April 5, 2020 @ 8:01 pm By Omar Faridi  |  

OneConnect Financial Technology, the Fintech division of Ping An Insurance, China’s largest insurance and logistics conglomerate, has partnered with the China Merchants Port Group (CMPort), in order to develop a blockchain or distributed ledger tech (DLT)-enabled logistics platform. The DLT-based solution is being created for… Read More

April 5, 2020 @ 6:46 pm By Omar Faridi  |  

Points Technology, an artificial intelligence (AI) and blockchain-focused firm, has reportedly acquired millions of dollars in funding through a Series A round. K2 Venture Partners, a Chinese venture capital firm, made the investment. Points Technology’s management said that the funds raised will be used to… Read More

March 29, 2020 @ 2:50 pm By Omar Faridi  |  

Several reports from media outlets have claimed that China’s Blockchain Service Network will be introduced next month. However, these reports seem to be coming from local sources, which made the announcements before China’s first fatality due to the coronavirus (COVID-19). In October of last year,… Read More

January 11, 2020 @ 7:22 am By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s central bank, has reportedly stated that the “top-level” design of its national digital currency has been finalized. The Chinese reserve bank revealed the development of the sovereign digital currency in a new paper, confirming that the “top-level… Read More

December 31, 2019 @ 11:00 am By Omar Faridi  |  

China’s Securities Regulatory Commission has confirmed that it recently received an application for a blockchain-related exchange-traded-fund (ETF). The nation’s securities regulator noted that the proposal was submitted on December 24, 2019 by Penghua Fund, a Shenzhen-headquartered asset manager. According to the filing, the ETF application… Read More

December 26, 2019 @ 8:05 am By Omar Faridi  |  

The Shenzhen Stock Exchange (SSE), the stock exchange of China’s leading technology hub Shenzhen city, has introduced an index that tracks the performance of the country’s top 50 blockchain startups. As noted in an announcement on December 24, the performance index will be based on… Read More

December 24, 2019 @ 10:58 am By Omar Faridi  |  

Tencent, which operates the popular Chinese social media app WeChat, is reportedly planning to establish a digital currency research division in order to support the ongoing development and advancement of blockchain or distributed ledger technology (DLT) initiatives. Chinese media outlet iFeng revealed on December 23… Read More

December 24, 2019 @ 8:19 am By Omar Faridi  |  

Mu Changchun, deputy director at the People’s Bank of China’s (PBoC), recently stated that the digital yuan (under development) will be fundamentally different from Bitcoin (BTC), the flagship cryptocurrency. The electronic yuan will also be different from stablecoins, which are digital assets pegged one-to-one with… Read More

November 24, 2019 @ 8:34 am By Omar Faridi  |  

Authorities in China continue to crack down on crypto-related businesses. Recently, the nation’s police officials closed down local digital asset exchange BISS and took 10 people into custody, as they were suspected of being involved in the trading platform’s business operations. On November 22, 2019,… Read More

January 12, 2016 @ 2:58 am By Midori Yoshimura  |  

In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More