The cooperation will allow the increasing number of Chinese travelers in the UK to purchase goods and services via the WeChat Pay application on their mobile phones.
Alibaba (BABA) stock price is down as the e-commerce giant expects that its revenue growth will slow this year due to the coronavirus pandemic.
Tencent (TCEHY) stock is aiming to break above the 2018 and all-time high of around $58. The rise is bolstered by the strong balance sheet in the first three months of 2020.
As it braces for the financial atmosphere after the coronavirus pandemic passes, N26 has pulled in new funding and is eyeing the Brazilian market.
Several local industry reports suggest that China could be all set to introduce its Digital Currency Electronic Payment (DCEP) in the market by May 2020. It will initially test the use of digital currencies among its state employees.
The digital yuan app would be available for download in Shenzhen, Chengdu, Suzhou, and Xiongan when the test begins.
China is set to launch its Blockchain Service Network (BSN) on April 25th, 2020. It will allow anybody to launch and deploy new blockchain applications for minimal cost.
Huawei, Baidu, JD.com, Tencent and Ant Financial joined China’s national committee that aimed at setting the standards in the country.
Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.
German fintech bank N26 has told customers that it’s pulling out of the UK because it won’t have a license to operate there after Brexit. The company said it will close down all UK accounts on April 15 and is advising customers to transfer their funds to alternative bank accounts.
Warner Music Group is now the latest high-profile company that has taken a decision to go for a public listing in 2020.