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Ant Financial’s $100 billion valuation would put it in the same league as the world’s biggest banks
Ant Financial Services Group, the Chinese fintech giant, is planning a funding round that could fetch a valuation similar to the world’s biggest and oldest banks: The digital payment company is raising as much as $5 billion in equity that may value it at more than $100 billion, according to Reuters.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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More Bitcoin Regulation Likely In Emerging Markets
According to a report from Bloomberg, published at the end of last year, around 58% of the world’s cryptocurrency mining pools are located in China, followed by the US at 16%.
Even though significant financial institutions within China are forbidden from providing payment services for products denominated in bitcoin due to bitcoin regulation, other platforms have emerged to offer investors this service.- Categories
- Finance, Technology
- Region
- Asia Pacific
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- cryptocurrency
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Asia-Pacific fintech market to reach US$72 billion by 2020, finds Frost & Sullivan
Active support and initiatives by financial regulators such as the Monetary Authority of Singapore, Bank Negara Malaysia and Bank Indonesia has enabled the Asia-Pacific Fintech ecosystem to grow significantly in 2017.
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- Finance
- Region
- Asia Pacific
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China’s Ant plans equity fundraising at potential $100 billion valuation – sources
Ant’s last fundraising in 2016 valued the owner of Alipay, China’s top online payment platform, at about $60 billion. The new round should start with a valuation of between $80 billion to $100 billion, the people said.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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Apple brings Alibaba-linked payment system into China stores amid market push
Apple Inc will accept Chinese mobile payment app Alipay in its local stores, boosting its ties with giant e-commerce firm Alibaba Group Holding Ltd amid a push by the iPhone maker to revive growth in the world’s No.2 economy.
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- Finance
- Region
- Asia Pacific
- Tags
- digital payments, fintech
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Indonesia’s Fintech Lending Boom Exploits Shortfall in Bank Loans
The emergence of these peer-to-peer (P2P) lending platforms has so far been welcomed by Indonesia's financial regulators which see them as offering a much needed service to cash-strapped businesses and consumers at a time when Southeast Asia's biggest economy has been hobbled by sluggish bank lending.
- Region
- Asia Pacific
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Ant Financial and the Greening of Fintech
The fintech boom has certainly re-shaped the way business is done and fashioned societal shifts in China’s consumer market; it is changing behaviors. Can the fintech boom also create opportunities to help spur sustainable development?
- Categories
- Environment, Finance
- Region
- Asia Pacific
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China’s cryptocurrency crackdown cost bitcoin company BTCC tens of millions in revenue: ‘It was in the realm of our worst possibility’
BTCC founder and CEO Bobby Lee told Business Insider: "We always knew it was a risk that the Chinese government would look unfavourably on bitcoin and put some strong rules around it.
- Categories
- Finance
- Region
- Asia Pacific
- Tags
- cryptocurrency, fintech