Asia

Menusifu receives a $3 million round to boost a system that integrates with Alipay and WeChat Pay, enabling Chinese travelers to make direct payments with renminbi from Chinese bank accounts and digital wallets.

China’s crackdown on cryptocurrency exchanges raises questions about the future of digital asset innovation, a movement that some bankers view as a threat and others embrace as a boon to payments, P-to-P lending and other activities.

SBI Ripple Asia has formed a partnership with Dayli Intelligence to build a presence across Asia.

The preparations underscore the trouble Chinese buyers face in persuading the panel that investigates foreign acquisitions to greenlight takeovers.

HSBC has been implementing biometric techniques for customer authentication, including voice recognition and Touch ID.

In India, dLocal wants to enable global e-commerce companies to accept payments from and make payments to India to serve consumers, contractors and supply chains.

Alipay and WeChat Pay will force traditional payment networks to up their game, particularly in in-play emerging markets. Whether they can become relevant at scale for consumers outside China remains to be seen, writes Eric Grover, a principal at Intrepid Ventures.

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $150 billion cryptocurrency market after the country outlawed initial coin offerings last week.

The cross-border payments specialist has developed a workaround to comply with a format that requires Chinese characters for certain transactions.

China's Metaverse Foundation collaborated with Russian crypto investment bank CyberTrust to create the Cryptocurrency Fund to support ICO projects from China and Russia through KICKICO's crypto crowdfunding platform.