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City of London Mayor Sees Fintech Promise in Greater Bay Area Plan

Peter Estlin looks to drum up investment for London’s financial district before Britain’s divorce from European Union trading system.

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Regulating FinTech

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Internet Giants Such as Alipay, Amazon Pose Existential Threat to Banks, Says Bank for International Settlements Chief

Internet and “big data” giants like Amazon.com and China’s Alipay pose an existential threat to traditional banks, the head of the Bank for International Settlements, Agustín Carstens, said on Tuesday.

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Singapore’s Central Bank Calls Blockchain ‘Fundamental’ Tech to Change Financial Services

Singapore’s central bank is counting on blockchain, along with artificial intelligence, to serve as “fundamental” technologies that will help transform financial services, according to a senior official.

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Fund Transfers Between Alipay and WeChat Pay Around the Corner as Hong Kong Launches Faster Payments Service

Hong Kong customers of Alipay and WeChat Pay, the two dominant cashless payment operators in China, the world’s largest internet market, will be able to transfer funds from each other for the first time, through the Hong Kong Monetary Authority’s Faster Payment System.

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Cryptocurrency Traders in China Find Ways to Get Around State Regulators

Industry observers are certain that Chinese investors will always find ways to circumvent increasingly tightening controls over cryptocurrency trading by mainland authorities, making it practically impossible to ever impose a complete shutdown on trading.

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Tightening Regulations Makes Fintechs Easy Takeover Targets

Embattled financial technology businesses in China, which have come under tightened regulatory scrutiny, are becoming acquisition targets by mainland banks accelerating their digitalisation drive, according to global management consultancy McKinsey.

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Bank of East Asia Joins the Mobile Payments Race as Traditional Lenders Challenge Tech Firms

Bank of East Asia has become the latest lender to join the mobile payments fray in Hong Kong with the launch on Monday of the first all-in-one electronic payment platform for merchants. At present, restaurants and shops that accept credit cards and other forms of mobile payment have to install different devices to process each […]

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