Tencent

The deal marks the largest investment Tencent has made in Japan so far.

Yusys Technologies is already a collaborator of Tencent Cloud and develops fintech services for more than 150 banks.

Over 1 billion people in China use WeChat for communication, work collaboration, and more, blending professional and personal space.

Regulators are coaxing tech companies to lift blocks to rival platforms, one step at a time.

The company behind WeChat was the subject of intense criticism last week for holding a stake in Futu, a US-listed online stockbroker.

Wang said he may start a career in the medical field after his departure.

Several major mutual aid platforms have been suspended this year, while regulators are determined to rein in tech firms’ control of insurance-like services.

After regulators stepped in, Alibaba and Tencent are dissolving protectionist features.