by Florin Oprea
Yuvraj Malik – LiveMint
Paytm recently announced the acquisition of Nearbuy and Little, two deals platforms that focus on local restaurants as well as commercial establishments.
FAO: Paytm’s CEO Vijay Shekhar Sharma is out shopping. I bet he has quite a long “checklist”. He got loads of money and very high ambitions. More about Paytm’s funding and plans – here.
Adyen rolled out WeChat Pay, one of the most popular mobile payment apps in China, allowing Adyen merchants to offer WeChat Pay on their point-of-sale terminals worldwide.
FAO: Woo hoo. This comes after launching Alipay in October.
JD Alois – Crowdfund Insider
Jack Dorsey, founder of Square and Twitter, revealed in a tweet that Square’s Cash App is rolling out Bitcoin for its users. The integration should come as no surprise to crypto enthusiasts as digital currency is quickly going mainstream.
FAO: Yeah, and probably other currencies will soon follow. Just like Revolut did earlier this week (reported here in Blockchain Daily News), adding litecoin and ether, after it previously added bitcoin last July.
Funding Circle announced that investors have lent more than $5 billion globally to small businesses through the Funding Circle platform. This has supported a network of 40,000 businesses across the UK, USA, Germany and the Netherlands and helped to create more than 100,000 new jobs (Small Business, Big Impact‘ research).
DNT: Recently, Funding Circle announced the launch of ISA (individual savings account) to all current investors.
Laura He – SCMP
ZhongAn, China’s first and largest online-only issuer, said it wanted to learn from its rival and early investor, Ping An Insurance Group, which has taken the lead in research and development in insurance technology.
FAO: ZhongAn’s IPO was quite a “hit” last September in Hong Kong, where it raised $1.5B. I am sure you all know by now, as you also know that all Chinese fintech giants seem to have “binary options” when considering listing their shares: US or Hong Kong. Just look at Dianrong’s announcement earlier this week.
GMEX was selected as one of the 25 ‘high impact’ solution providers, from around the world. The exchange solution will include technology to deliver market data, Warehouse Receipts, finance and trading, including auctions, quoting and continuous trading facilities.
FAO: Another success for Hirander Misra and his team. In June GMEX closed a deal with Midclear which selected GMEX Technologies to provide and implement AvenirClear CCP product as the core system of the first CCP in Lebanon. You can read a profile of Misra in one of our previous editions.
Via Inside Media – TheCityUK has appointed Deloitte boss Richard Bell as its first city chair for Greater Manchester.
Jessica Meyers – Los Angeles Times
Chinese women find more success than those in the U.S. when it comes to tech, according to a 2016 report by Silicon Valley Bank. Nearly 80% of Chinese startups include one high-level woman, it concluded, compared with 54% of American startups.
Karlis Salna, Tassia Sipahutar – Bloomberg (subscription)
Indonesia’s central bank will bar fintech companies from using digital currencies on their platforms as a global frenzy around bitcoin continues to lure more investors. The curbs, effective from Jan. 1, won’t apply to trading of digital currencies, Bank Indonesia Deputy Governor Sugeng said.
FAO: Yes, expected. Oh, you might find useful to check our Crypto-Teams BDN Global Outlook, published and kept updated in Blockchain Daily News.
Here’s the situation now:
Crypto-Teams BDN Global Outlook
Team “Pro”: Japan, Hong Kong + Singapore, Australia, United Arab Emirates, Bahrain, Cambodia, Kazakhstan, Catalonia, Argentina (latest entry)
Team “Against”: China, India, Russia, Malaysia, South Korea, Indonesia, Lebanon, Taiwan and Zimbabwe (latest entry)
Team “Neutral”: EU (FOR NOW), USA, Canada
Suchit Leesa-Nguansuk – Bangkok Post
Thailand ranks seventh out of 10 Asian countries in a Taiwanese consulting firm’s FinTech Competitiveness Index. The country, however, outperforms Malaysia and only lags behind Singapore in terms of regulatory advancement.
The Dubai Financial Services Authority deepened ties with regulators in Hong Kong signing two cooperation agreements to enhance collaboration in FinTech innovation. The agreements reinforce the existing strong relationship between the authorities in the two markets, which cooperate in the regulation of the financial services sector and FinTech businesses.
Sramana Mitra – Seeking Alpha
According to FT Partners, the FinTech market saw a record 412 financial deals during the third quarter of 2017. One of the largest deals in the quarter involved a $250 million investment by Softbank in billion-dollar unicorn Kabbage.
FAO: Recently Kabbage and ING said they were expanding their partnership into France and Italy to provide automated small business lending.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News