Brief: Binance takes interest in first blockchain bank, Xiaomi IPO nets Lei Jun over $1b

Discussion in 'News Section' started by TechInAsia, Jul 13, 2018.

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  1. TechInAsia

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    Xiaomi founder Lei Jun rang the opening bell at Hong Kong Stock Exchange on July 9, 2018. / Photo credit: Xiaomi


    Xiaomi founder’s net worth soars on shares jump (China). Xiaomi has surged to HK$20 (US$2.55) per share today after its disappointing Monday debut at HK$16.6 (US$2.11). The uptick sends co-founder Lei Jun’s net worth to over US$19 billion, well above Baidu CEO Robin Li’s US$12 billion and JD founder Richard Liu’s US$10.8 billion. Lei Jun’s net worth has jumped US$14.1 billion over the past year. (TechNode)

    Binance backs world’s first decentralized bank (Japan). One of the world’s largest cryptocurrency exchanges is taking a 5 percent stake in the blockchain-based Founders Bank as it works to bridge the digital-token industry with traditional banking. The Malta-based bank, which has a US$155 million pre-money valuation, will be issuing its own “legally binding” equity tokens through fundraising platform Neufund. (Bloomberg)

    Other news


    SoftBank adds parking app to its transportation empire (Japan). The investor, which has backed ride-hailing giants Didi, Grab, and Uber, is rolling out Bluu Smart Parking through an undisclosed investment as part of its attempt to accelerate Japan’s sharing economy. The new app lets drivers spot, reserve, and pay for parking spaces, and will tap into companies that want to rent out empty space. (Bloomberg)

    Apple joins hands with local clean-energy firms (China). The US company aims to power about one million homes by investing US$300 million in China’s renewable energy industry. The move mirrors Apple’s foray in sustainability back home, including a Bay Area solar facility it helped set up. In recent years, the Chinese government has been cutting back on coal use to bet on clean energy. (CNBC)

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    Photo credit: Bagus Hernawan / Unsplash


    Yahoo Japan buys culinary media startup (Japan). The internet firm has taken a 45.6 percent stake in Dely for US$83.8 million. Yahoo Japan and Dely are eyeing a collaboration that focuses on Kurashiru, the four-year-old startup’s recipe discovery portal. (DealStreetAsia)

    Paidy nabs US$55 million in series C raise (Japan). The round was led by Japanese conglomerate Itochu, with the participation of Goldman Sachs. The startup lets customers shop online without a credit card and settle their monthly bills at a convenience store, by bank transfer, or via auto debit. The tie-up with Itochu will help Paidy reach a broader audience. (Paidy)

    M Cash unit raises US$21 million in IPO (Indonesia). NFC Indonesia opened at US$0.19 on the Indonesia Stock Exchange, above its previous price of US$0.12. A subsidiary of “smart kiosk” firm M Cash, the startup runs a real-time phone credit marketplace and a TV and entertainment service. It said that the funds raised will fulfill its working capital needs as well as drive its investments in technology development and human capital. (DealStreetAsia)








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