Tag: China
IBM, China UnionPay develop blockchain loyalty points
International Business Machines is working with a Chinese credit card company to to create a blockchain-based system for trading loyalty points. Read more: www.coindesk.com
China’s financial firms urge the need for blockchain
China’s major financial institutions believe governance should not be replaced in any larger transitions to blockchain. Read more: www.coindesk.com
Chinese credit card app grabs $310m at $1bn valuation
Credit card management app U51.com is the latest Chinese FinTech startups to land a $1bn-plus valuation as the company announces its $310m Series C round. Read more: www.fintechroundup.com
FirstP2P nabs $70m, shows Chinese emphasis for investors
FirstP2P, a Chinese online peer-to-peer (P2P) financing site, has raised a $70 million Series C round led by existing investor CCB International. Read more: www.fintechroundup.com
Jack Ma’s finance business worth $75bn
Alipay got its start in 2004 as a way for the customers of Alibaba Group Holding Ltd. to more easily buy goods online. Now the parent company is worth $75bn. Read more: www.bloomberg.com
Global smart card market continues to grow
The smart card industry continues to grow as more and more consumers embrace it. Read more: www.pymnts.com
Shanghai launches new blockchain alliance
There’s a new blockchain consortium in town with the announcement of the Shanghai Industrial Development Blockchain Alliance. Read more: www.fintechroundup.com
Chinese authorities raid peer-to-peer lender’s offices
The Chinese authorities are cracking down on suspicious peer-to-peer (P2P) lending platforms with raids on the offices of two businesses connected with Shanghai Kuailu Investment Group. Read more: www.fintechroundup.com
Ant Financial ups its biometrics game with $70m EyeVerify buy
Alibaba’s FinTech subsidiary Ant Financial is boosting its biometric capabilities through the acquisition of Kansas City-based EyeVerify. Read more: www.fintechroundup.com
Qudian turns toward consumer finance
Qudian.com announced to exit from campus installment market in which it used to be the leader, and turned their focus on consumer finance. Read more: www.crowdfundinsider.com