Carousell’s digital wallet CarouPay will allow users to pay without leaving the Carousell app.
KrASIA Daily is a three-minute read to brief you everything you need to know to start your day. We only choose the latest tech & startup news that is worth your time, with a focus on Southeast Asia and China.
Southeast Asia:
Singapore: Online marketplace Carousell has announced the launch of CarouPay, a digital wallet within the Carousell app. (e27)
Indonesia: Indonesia’s US-listed digital payment and e-commerce platform KinerjaPay has announced its plan to acquire PT. Kinerja Indonesia, whose line of businesses includes data center, web hosting and development, network solutions, e-wallet and games. (Deal Street Asia)
Thailand: Thailand’s securities and exchange commission expects to issue regulations on cryptocurrencies and initial coin offerings by the end of June after holding a public hearing, the SEC chief said on Tuesday. (Reuters)
Vietnam: Huobi Pro, the world fourth largest crypto exchange, plans to foray into Vietnam’s blockchain market and also explore investments and partnerships in Asia, local media reported. (Deal Street Asia)
Thailand: Thailand-based Baania, a Big Data-driven marketplace and data analytics platform for the real estate industry, has secured an undisclosed sum in investment from Krungsri Finnovate, the corporate venture capital (CVC) arm of local banking major Krungsri, and state-owned oil & gas company PTT Public Company. (e27)
China:
Ant Financial, Alibaba Group’s financial arm, will drastically reduce the amount of money that investors can withdraw each day from its money market fund, in a move it said was taken of its own accord to manage liquidity risk. (SCMP)
Chinese e-commerce firm JD.com Inc. has invested US$306 million in Warburg Pincus-backed Asian logistics real estate developer and operator ESR Cayman Ltd. (CMN)
Chinese mobile phone manufacturer Smartisan Digital Co. signed a cooperation agreement with Beijing Digital Telecom Co. to expand sales by developing offline channels. (Yicai)
Alibaba’s lifestyle app Koubei is testing an online restaurant menu function at a chain tea shop and a fast food store in Wuxi City. (Technode)
Samsung Electronics is in talks with several smartphone makers including China’s ZTE to supply mobile processor chips, a senior executive said, a move that will bring it in more direct competition with larger rival Qualcomm. (Reuters)
GIC Private Ltd., one of Singapore’s sovereign wealth funds, and Nova Property Investment Co., a leading Chinese property investment and asset management firm, have agreed to establish a rental apartment platform in China where the government seeks to foster the leasing market’s growth. (Yicai)
Zhejiang Ebang Communication Co., Ltd., a Chinese telecommunications equipment and Bitcoin mining machine manufacturer, is in the process of applying for an initial public offering in Hong Kong, according to people with knowledge of the matter. (CMN)
Chinese investment firm Shenzhen Capital Group Co., Ltd. has partnered with Wu Capital, a Chinese family office, to lead a US$128 million series A round in Roadstar.ai, an artificial intelligence start-up focused on research and development of level 4 autonomous driving technologies. (CMN)
Reports that Zhejiang Geely Holding Group Co. is in talks with Beijing Automotive Group Co. (BAIC) over an equity purchase deal are groundless and untrue, BAIC said on its official microblog account, citing a joint statement by the two companies. (Yicai)
World:
Uber Technologies Inc’s growth has slowed as a series of scandals has allowed the ride-hailing company’s chief U.S. competitor, Lyft Inc, to grab more market share, digital research firm eMarketer said in a report on Monday. (Reuters)
Masayoshi Son, the CEO of SoftBank Group Corp. and the architect of the world’s biggest technology fund, promised that the second fund will be launched soon. (Bloomberg)
U.S. file-sharing and storage company Dropbox plans to expand its development center in Tel Aviv by hiring more staff and looking out for acquisition opportunities in security and machine-learning. (Reuters)
Cars that drive themselves are finding the clearest paths to showrooms in the UK, Germany, South Korea and Singapore, where governments have enacted legislation allowing autonomous vehicles to be tested on public roads. And China is not far behind. (SCMP)
