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Tag Archives: tencent

Alibaba and Tencent Stocks Thrive amid Coronavirus, China Aims to Become Stabilizing Force

Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.Coronavirus has almost become the order of the day in mainstream media since it was first reported in Wuhan, China. The virus has pushed beyond the ground zero to infect countries almost in all continents. As a result, it’s not only the human health status that has been...

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Fintech Bank N26 Is Leaving UK and Closing UK Accounts Because of Brexit

German fintech bank N26 has told customers that it’s pulling out of the UK because it won’t have a license to operate there after Brexit. The company said it will close down all UK accounts on April 15 and is advising customers to transfer their funds to alternative bank accounts.German online bank N26 announced on Tuesday it is leaving the United Kingdom because, after Brexit, it will be enabled to operate there. The company said that “with the UK having left the EU at the end of January, we...

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Warner Music Group Files for IPO, It Is to Go Public in 2020

Warner Music Group is now the latest high-profile company that has taken a decision to go for a public listing in 2020.American multinational entertainment and record label, Warner Music Group, has announced that it has filed a registration statement for an IPO to sell shares of its common stock which are proposed to be sold by certain of Warner Music Group’s stockholders.Warner Music Group became the latest big-name company to opt for a public listing since the turn of the year. The number...

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Tencent-Backed Social Platform Little Red Book Seeks $6 Billion Valuation

Social platform Little Red Book is seeking a $6 billion valuation. The platform is reportedly in talks with investors to raise between $400 million and $500 million. It’s also worth mentioning that it has the backing of internet giants Alibaba and Tencent holdings.Xiaohongshu which means “little red book” has tried to release its app before now. The startup though has indicated that the app will be available for download to about 300 million users in app stores from July this year. It is also...

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Tencent Partners with UnionPay through Mobile Payment Integration

Tencent Holdings Ltd. and China UnionPay Co. announced they plan to bring together their mobile codes that users scan to pay for purchases. In that way, the Chinese central bank gets a much larger niche network inside the $27 trillion payments playground.Both companies decided to consolidate their QR code systems so their users will be able to transfer or spend their assets just by using the same smartphone symbols.However, from the companies, they didn’t want to elaborate. The Tencent...

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Tencent Sets Eyes on Digital Currency Research Group

Tencent, the Chinese technology giant that operates the social media app WeChat, has announced that it is planning to develop a digital currency research group. This research group will have the responsibility of further advancing various blockchain technology research projects. According to fresh reports by iFeng, the company had released an official statement to its employees telling them that it is seeking someone to head the proposed research group.The yet-to-be-established digital...

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China’s Digital Currency Is at the Final Stage of Development

It seems China was really serious when talking about its digital currency. Even though China was trying to forbid cryptocurrency mining and trading, for the last three months it is in the process of creating its own.Head of the People’s Bank of China’s (PBoC) Digital Currency Research Institute, Mu Changchun, stated that the country’s digital yuan is finally ready for trials. The central bank digital currency (CBDC) will, as per the announcement, not come as a volatile asset like Bitcoin or...

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WeChat, Alrosa Feature Diamonds Market with Blockchain-Based Tracking Tool

It has become known that Everledger, Tencent and Alrosa will sell diamonds with blockchain IDs. A blockchain startup Everledger will serve as a basis for the retail mini program which is exclusively for WeChat customers. Having one billion Chinese folks using it in everyday tasks, the app gives transparent and truthful details about different things. And now – including the luxury stones. The feature is using blockchain for traceability and transparency. Customers will be able to obtain...

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Uber to Offload Uber Eats India to Zomato as It Aggressively Cuts Losses

Uber is reportedly very close to selling off its Uber Eats food delivery business in India. According to a TechCrunch report citing three people familiar with the matter, Uber is at the final stages of negotiations with Indian rival company, Zomato. If negotiations are successful, Zomato will take it over.Valued at more than $2 billion, Zomato is easily one of the largest food delivery businesses in India and hasn’t made it very easy for Uber Eats since the latter launched in May 2017. The...

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As China Looks to Become World’s Leader in Blockchain, What’s Next for 2020?

Blockchain technology by most standards is still quite nascent. Regardless, there are already quite a few impressive applications of the technology, with constant efforts at development. The first and probably the most popular use of blockchain is the Bitcoin cryptocurrency, which went live over a decade ago. However, since then, applications have been seen in several different sectors including finance and healthcare. Because it is still somewhat new, there is still a lot of room for...

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