Fintech

Cash loan “supermarkets”, a byproduct of the cash loan business, are generating equally huge profits for their operators.

The Chinese government has stepped up its control over the cash loan industry, causing the stock prices of US-listed Chinese internet finance companies to plunge.

Plus, Singapore’s InCorp Group has acquired three subsidiaries of CA Trust. California-based cloud-service provider Scalyr has raised $20 million.

The buzzword of the world has changed from “connection” to “efficiency” as the industry waves goodbye to fintech 1.0 and ushers in the age of fintech 2.0.

Tencent today can hardly hide its ambition in AI any more.

The company opened for trading at $13.4 per share, up slightly by 4% from the $13 offering price, with its market value reaching $4.234 billion.