Blockchain
Chinese and Asia-Pacific companies dominate the top 10 in KPMG and H2 Ventures 2019 Fintech100
Chinese and Asia-Pacific companies made a strong showing in the top 10 of the 2019 Fintech100 report from KPMG International’s global Fintech practice and fintech investment firm H2 Ventures.
As in 2018, this year’s list showed payments and transaction companies dominating, representing 26 of the ranked companies. This was followed by wealth companies (20), insurance companies (17) and lending companies (15).
China had three companies in the top 10 this year, with a total of seven companies in the ‘Top 50’ and three in the ‘Emerging 50’.
Two India-based companies also featured in the top 10, as did two companies from the US and one from the UK (see the complete top 10 ranking below).
Ian Pollari, Global Co-leader for KPMG’s Fintech practice and a partner with KPMG Australia said: “Globally, we have seen a rise in companies from across Asia-Pacific (including China) which represent the top six, and seven of the top 10 fintech companies in 2019, with China again securing the most top-ten positions.
“In 2019, we have also seen the emergence of India as a fintech force, taking two of the top positions and with seven companies in this year’s list in total,” he added.
Chris Wang, Partner, Head of Fintech, KPMG China, said: “As fintech development continues to go strong in China, we are seeing some changes in China’s fintech landscape. Aligned with trends we observe globally, we see an increasing number of wealth, insurance and multi-sector companies in China on the list, which indicates that technologies and innovations have spread into more financial services sectors. Also, we can see an increase in the number of fintech companies from Hong Kong on the list following a series of efforts by the Hong Kong Monetary Authority to facilitate the development of the fintech ecosystem in Hong Kong. With the competitive advantages of leading fintech companies from Shenzhen and increasing cooperation and interactions among fintech companies in the region, the Greater Bay Area is becoming an important fintech hub in China and undoubtedly has key role to play in the continuous transformation of financial services.”
Overall, the Asia-Pacific region dominated the top 10 for another year with five companies in the ranking. Ant Financial (China) ranked first for the second year running, followed by Grab (Singapore) and JD Digits (China). Coming in fourth was Indonesia-based GoJek. China-based Du Xiaoman Financial took sixth.
Avril Rae, Director, Head of Fintech, Hong Kong, KPMG China, noted: “The annual Fintech 100 champions innovation and innovators. Having led the rankings for the past three years and again securing the most top ten positions on the List in 2019, we see that China remains strong in this field. Additionally, we see a significant increase in venture capital backing of fintech companies; leading fintech players are attracting a greater share of capital from significant venture investors in fintech companies and strategic investors.”
2019 Fintech100 – Top 10:
- Ant Financial (China) is the world’s largest third-party payments platform.
- Grab (Singapore) uses data and technology to improve everything from transportation to payments across a region of more than 620 million people.
- JD Digits (China) is a digital technology company, dedicated to providing digital, online and offline all-scenario services around three key points: data, user and connectivity. It uses emerging technologies such as big data, AI, cloud computing, blockchain and IoT.
- GoJek (Indonesia) a multi-services platform with more than 20 services including Gopay, Gobills, Gopoints, Paylater, and Gopulsa serving millions of users in Southeast Asia.
- Paytm (India) is the largest digital payments company in India with more than 380 million registered users and 12 million merchants on-board its Paytm platform.
- Du Xiaoman Financial (China) provides short-term loan and investment services.
- Compass (United States) is a real estate technology company with a powerful end-to-end platform that supports the entire buying and selling workflow.
- Ola (India) off the back of its ridesharing user base Ola Money is making payments easier and simpler.
- Opendoor (United States) makes it possible to receive an offer on a home in just a few clicks, and sell in a matter of days, removing the headaches, uncertainties, and risks from the transaction.
- Oaknorth (United Kingdom) specializes in small-and-medium-enterprise lending using its proprietary data and technology platform.
Many fintechs are also benefiting from being at the forefront of several key trends, the report found.
Globalization
According to market analysis, an increasing number of fintechs are rapidly globalizing across multiple jurisdictions, such as Australia’s AfterPay Touch, Brazil-based Nubank, Germany-based Kreditech Holdings, and Spain’s Bnext.
Monoline to mainstream
Early fintech innovators with monoline product propositions are now diversifying to fulfil a greater set of mainstream customer needs.
Open banking
A number of companies, such as China’s Ant Financial and India’s Open, are benefiting from the global policy shift to open banking, which is driving competition and allowing fintechs to access customer banking data to create faster, more personalized and innovative services.
SOURCE KPMG
A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
The post Binance warns of crypto market risks from overvaluation, centralization appeared first on HIPTHER Alerts.
The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.
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