Hi fintech friends,
Please find another week of news about the Chinese economy and fintechs below.
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This Week in Fintech - China now publishes to 7
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Licensing & Regulations
Payoneer has received regulatory approval to acquire a Chinese payment license, making it one of the last major cross-border payment providers in China to do so.
Hong Kong SFC approves Bullish as the 10th licensed virtual asset platform, targeting institutional clients.
China introduced new personal information protection audit measures effective May to enhance business compliance.
Hong Kong approved its first retail tokenized money market fund.
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Financing, Investment & Acquisition
Gaorong Ventures invested $30 million in Hashkey, bringing its valuation to $1.5 Billion.
After acquiring tax-free shopping provider Global Blue, Shift4 is exploring partnerships with its shareholders Tencent & Ant International to expand global eCommerce payment products.
Product & Partnership Launches
AspirelaunchedVisa Corporate Card for Hong Kong SMBs.
Alipaypartnered with Barq to boost cross-Border payments in Saudi Arabia.
Standard Chartered, Animoca Brands & HKT issued a HKD-Backed Stablecoin.
Ant International opened their first Middle East office in Saudi Arabia.
Payment provider Huifuexpanded to Australia with the launch of HuePay.
Dubai's Tokinvest and HKVAX, a virtual asset trading platform,partnered for tokenization initiatives.
Other News & Reads
Shein may cut valuation to $30 Billion ahead of IPO.
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