China’s tech giants JD.com and Alibaba affiliate Ant Group are urging the central bank to authorise yuan-based stablecoins to counter the growing sway of US dollar-linked cryptocurrencies, people with direct knowledge of the discussions said. The two firms propose China allow the launch of stablecoins in Hong Kong pegged to its offshore yuan to help…
After a chastening crackdown that wiped billions off their value and forced top executives out of the public eye, China’s technology giants are back in favour and on the front foot, making deals and snapping up assets. At the top of the pile are Alibaba Group and Tencent , two huge players that used to…
China-based Ant Group has reportedly unveiled a new, AI-powered health app for smartphones. As CNBC reported Thursday (June 26), the app was made using artificial intelligence (AI) technology that Ant said could be introduced overseas, marking the latest example of how Chinese AI is being used for consumer applications. According to the report, Ant —…
Hong Kong pop diva and actress Karen Mok Man-wai bought a luxury unit in the Mid-Levels district for HK$85 million (US$10.8 million), as the city’s celebrities, tycoons and other wealthy investors continue to pick up plum properties that are selling for a song. According to the Land Registry, a 2,153 sq ft three-bedroom flat at…
Fintech firm Ant International, the global affiliate of Chinese tech giant Ant Group, said it would apply for a stablecoin issuer licence in Hong Kong once the new ordinance governing fiat-backed cryptocurrencies comes into effect in August. “We welcome the passage of the Stablecoins Bill … and hope to contribute more to the city’s vision…
Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…
Hong Kong’s move to legalise stablecoins – cryptocurrencies that maintain a fixed value by being pegged to a reference asset – is grabbing the attention of mainland institutions, as a leading Chinese brokerage predicts a boom in tokenised real-world assets (RWA) in the city. While Beijing has remained largely quiet on Hong Kong’s new stablecoin…
Early figures from China’s two dominant mobile payment services, Alipay and WeChat Pay, showed strong inbound travel spending during the country’s five-day Labour Day holiday. Alipay, a unit under Ant Group, said in a statement on Monday that both the number of transactions and total spending by inbound travellers across 13 e-wallets in its network…
HONG KONG (Reuters) -Ant Group, an affiliate of China’s e-commerce giant Alibaba Group plans to list its overseas arm, Ant International, on the Hong Kong stock exchange, Chinese media reported, citing unnamed sources. Caixin, citing people close to the company, reported that Ant was communicating with regulators about the potential listing. The report did not…
Ant Group has bought control of Hong Kong’s largest retail stock brokerage, as mainland China’s dominant online-payment operator stakes out a foothold in Asia’s third-largest capital market amid a resurgence of initial public offerings (IPOs) and transactions. Ant Group agreed to pay HK$2.81 billion (US$362.2 million) for 50.55 per cent of Bright Smart Securities &…