In today’s top news in digital-first banking, Brex has filed to open an industrial bank in Utah, while MYBank is getting in on China’s moves toward launching a cryptocurrency. Plus, LINE Corp. and Mizuho Financial Group have agreed to strengthen their investment in LINE Bank...
Ant Group’s MYBank is getting in on China’s moves toward launching a digital currency. The online bank said it will now be one of the participants in China’s digital yuan research program, Reuters reported on Monday (Feb. 22). MYBank plans to “advance the trial pursuant to...
MYbank, the online lending program of billionaire Jack Ma, is facing a serious test as the Chinese economy reels from the effects of the coronavirus, according to a Bloomberg report. The program is seeing strains and is on the verge of running out of money....
Alibaba said on Monday (Feb. 17) that ㍐20 billion ($2.86 billion) is available in loans via its affiliate, Ant Financial’s MYBank, to help companies affected by the Coronavirus, Reuters reported, citing an announcement on Alibaba’s official Weibo account. In addition, Alibaba is extending preferential terms...
February 13, 2023
For B2B eCommerce firms, options to easily process high-value online payments are few. “Cards are not made for that. We know that the average [limit] is around €1,500 and €3,000, so obviously [merchants] can’t use that in a business context,” Tarik Zerkti, CEO at Paris-based financial services firm PRETA, a subsidiary of pan-European clearinghouse EBA […]
February 22, 2021
Ant Group’s MYBank is getting in on China’s moves toward launching a digital currency. The online bank said it will now be one of the participants in China’s digital yuan research program, Reuters reported on Monday (Feb. 22). MYBank plans to “advance the trial pursuant to the overall arrangement of the People’s Bank of China,” a […]
May 05, 2020
MYbank, the online lending program of billionaire Jack Ma, is facing a serious test as the Chinese economy reels from the effects of the coronavirus, according to a Bloomberg report....
February 18, 2020
Alibaba said on Monday (Feb. 17) that ㍐20 billion ($2.86 billion) is available in loans via its affiliate, Ant Financial’s MYBank, to help companies affected by the Coronavirus, Reuters reported,...
July 28, 2019
Jack Ma’s MYbank is aiming to change the way China lends to small businesses. The 4-year-old bank uses real-time payments data and a risk-management system that analyzes more than 3,000...
