The new antitrust rules for China’s digital payment market could trigger a regulatory review of Ant Group and Tencent based on market share.
Fintech
Bytedance unveils Douyin mobile payment tool to rival Alipay, WeChat
Douyin Pay was recently added to the app, allowing users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform.
Jack Ma resurfaces amid regulatory clampdown
The Alibaba and Ant Group founder, Jack Ma, made his first public appearance in months at a video conference with rural teachers.
Ant Group digital yuan tests, Iran’s Chinese miners: Blockheads
Ant Group employees can use the Alipay app for digital yuan transactions in select locations, including the Lujiazui district in Shanghai.
PayPal now the sole owner of a payments firm in China
PayPal is the first foreign firm to fully own a licensed payment operator in China, as regulators seek to liberalize the finance sector.
Asian Financial Forum to convene world’s leading voices Jan 18 – 19
This forum will gather more than 160 global political leaders, financial and investment experts, and economists from all over the world to discuss economic trends and post-pandemic recovery plan.
Digital yuan goes physical, mining rig prices rise: Blockheads
The digital yuan is trialed again in Shenzhen, at ATMs and via a smart card. Crypto mining rig prices soared as Bitcoin hit the $41,000 mark.
Apartment rental firm Danke has repaid $201 million in loans to WeBank
WeBank has been repaid $201 million through a plan announced in December to transfer debt from tenants to the Danke rental platform.
BSN eyes CBDCs, Bitmain drama ends: Blockheads
The BSN is looking to tap into central bank digital currencies with two new projects, ZhongAn announces the first insurance policy to accept digital yuan.
EXCLUSIVE: BSN architect firm eyes CBDC with two new projects
Red Date Tech expects to launch a CBDC and stablecoin payment layer on the BSN in H1 2021, and is in talks to develop a public chain for such currencies.