Tag Archives: alibaba

On Monday, November 18, the big-four auditing giant KPMG unveiled its ranking for the top 100 companies in FinTech for 2019. The report shows that the Chinese and Asia-Pacific regions have dominated the rankings.Alibaba‘s payments wing Ant Financial topped the 2019 FinTech100 KPMG rankings. Last year in 2018, the payments and transactions companies dominated the rankings along with other companies from the insurance, wealth management, and lending sector. Another observation from the report...

Chinese e-commerce giant Alibaba is making swift moves to list its shares on the Hong Kong Stock Exchange. However, amidst high demand, Alibaba has planned to close its books early for institutional investors, reports CNBC.As per the report, the e-commerce giant plans to close its books by 12 PM ET on Tuesday, November 19. The sources familiar with the matter said that the book’s closure will happen half-day before the earlier schedule. This is clearly indicative of the fact that investors...

Alibaba Group Holding Ltd., has announced pricing for its soon-to-come share listing in Hong Kong. Estimated to have a target to raise $13.8 billion, the company will be selling 12.5 million shares exclusively to retail investors and has pegged it at HK$188 per share. Roughly $24, the sale will easily take its place as Hong Kong’s most expensive initial sale in history.The company plans to sell a total of 500 million ordinary shares in the Hong Kong listing, finally placing its focus on the...

Ant Financial, a subsidiary of Chinese tech giant Alibaba Group, has finally reached the testing phase of its business blockchain. The fintech arm of the tech giant, which has been working on a blockchain network created to support small and medium-sized businesses, has commenced its blockchain testing.Blockchain Tech Soon to Go LiveA top official at Ant Financial, Jieli Li who is the senior director of technology and business innovation at the company, stated during the World Blockchain...

Tencent Holdings Ltd, one of China’s biggest firms, generally has its hands in a little bit of every pie including gaming and sports. However, it would seem like there are dog days ahead for the giant firm, following a simple tweet in support of protests in Hong Kong.Back in 2018, Tencent successfully bagged a heavy and expensive deal worth $1.5 billion, which gave the company fully exclusive rights for streaming access to several games in the National Basketball Association (NBA) league....

Every year on November, 11, the Chinese celebrate the biggest shopping event knows as Singles’ Day. It is always a big deal for the retailing giant Alibaba and legions of other online shoppers, and this year is no exception. Alibaba, that has been promoting the event since 2009, has said that in the first nine hours, sales for the Singles’ Day shopping blitz reached 158.31 billion yuan ($22.63 billion), which is equal to more than half of last year’s record haul for the 24-hour event.Singles’...

Photo: ARPA OfficialARPA – the layer two privacy-preserving computation protocol – is set to square off against Carry Protocol, a data purchase platform on Ethereum, in Binance’s second round of the Community Coin Vote (CCV). Voting will begin at 4 AM 5 November (UTC) and will incorporate Binance’s new rules for the CCV that allocates a BNB rewards pool to the runner-up and reduces the BNB holding period of 9 to 7 days. ARPA winning voters will split a rewards pool of 15 million ARPA tokens,...

While this may come as a surprise to many but the less known and less trendy Pinduoduo has overtaken the upscale internet retailer JD.com both in share price and valuation. The share price rose on NASDAQ more than 12% to $39.96 giving it a market capitalization of $46 billion ahead of JD’s $45 billion. This makes Pinduoduo the 4th largest internet Chinese company whose shares are listed in another country with Meituan at $65.572 billion, Tencent at $385 billion, Alibaba at $449 billion. This...

Following Chinese President Xi Jinping’s call for his Country to “Seize the opportunity” offered by blockchain technology and the crypto space, it has been revealed by sources that the Chinese have been quietly working on over 500 blockchain projects in so many different fields with as many use-case scenarios which can be deployed practically in every sense.Sources indicate that the Cyberspace Administration of China has been in charge of the filings for blockchain technology projects before...

China’s internet and communications giant Tencent has recently raised concerns that if Facebook succeeds in its Libra launch by 2020, local Chinese payment service providers like WeChat pay and Alipay would face major threats in global markets.Tencent recently published a blockchain whitepaper in Chinese, wherein it calls Facebook’s Libra initiative as “bold and radical” as well as “prudent and rational”. The Chinese tech giant explains how Libra can quickly make inroads in markets where the...