The Shenzhen-based tech firm is looking for a person to lead a cryptocurrency research unit tasked with integrating a digital coin into its payments platform and ensuring regulatory compliance. (CoinDesk, TechNode)
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The Shenzhen-based tech firm is looking for a person to lead a cryptocurrency research unit tasked with integrating a digital coin into its payments platform and ensuring regulatory compliance. (CoinDesk, TechNode)
Talking point: The People’s Bank of China is considering letting Tencent be an issuer of the bank’s digital yuan, which is set to be rolled out in 2020. The firm is increasingly working with China on fintech initiatives: earlier this month, its bank, WeBank, became the first technical infrastructure provider for China’s blockchain network. Government work aside, the market potential for Tencent is significant. Over 900 million people used its WeChat Pay service in 2017, and the firm has an approximate 40 per cent share of China’s mobile payments industry. Today’s news is a further challenge to Facebook’s Libra, about which both the Chinese government and Tencent have raised concerns. Tencent’s ambitions are not without their critics. In May, Nepal banned WeChat Pay for not registering with domestic authorities.
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