Tag:

Chinas

China’s Ant Group denies rumors about an RWA and stablecoin joint venture
NFT Gaming

China’s Ant Group denies rumors about an RWA and stablecoin joint venture

by admin



Ant Group denies rumors of a collaboration between Ant Financial Technology and publicly-listed Chinese company Hainan Huatie involving partnerships in RWA and stablecoins.

In an official statement shared on the social platform WeChat, the fintech arm of Alibaba addressed rumors circulating about its digital technologies arm collaborating with another Chinese company to pursue web3-related ventures. The company in question is Hainan Huatie, a Chinese company that provides AI-computing services.

According to the press release, there’s been widespread speculation that the digital technology firm is gearing up for a cooperation with Hainan Huatie involving stablecoins and real-world assets. The company clarified that there have no formal agreement, business arrangement nor project implementation between the two parties.

In addition, Ant Group also took the opportunity to shed light on any other rumored false collaborations involving Ant Digital with regards to web3 topics RWAs and stablecoins.

“In addition, some companies in the market have recently hyped up hot concepts such as RWA and stablecoins, implying false cooperation with Ant Financial,” wrote the Ant Group in its release.

“Investors and partners are advised to carefully identify market rumors and pay attention to investment risks,” continued the company.

The company threatened entities spreading misinformation with legal action, specifically “unauthorized use of our company’s name for improper publicity.” Whether this claim is related to an earlier report on Ant International seeking stablecoin licenses in Hong Kong, Singapore and Luxembourg, as previously reported by crypto.news, remains unclear.

On June 12, a company spokesperson confirmed that Ant Group’s International arm has plans to obtain stablecoin issuer license in Hong Kong after the city’s Stablecoins Ordinance takes effect in August 2025.

According to the new law, all entities that intend to issue stablecoins pegged to the Hong Kong dollars or operate in the region must obtain a license from the the Hong Kong Monetary Authority.



Source link

0 comments
0 FacebookTwitterPinterestEmail
stablecoin
GameFi Guides

China’s Digital Marketplace Eyes Stablecoin For Faster Payments

by admin


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

JD.com is moving fast. The $90 billion Chinese e‑commerce giant unveiled a plan this week to cut cross‑border payment times from days to seconds. Shares ticked up to $33.90 at the open before slipping back to $33.45 by the close.

JD Launches Blockchain Payment Pilot

According to JD’s chairman Liu Qiangdong, the first step involves a pilot in Hong Kong’s stablecoin sandbox. His team at Jingdong Coinlink Technology wants to show that typical B2B payments, which now take two to four days and carry hefty fees, can settle in under 10 seconds.

They’re using Zhizhen Chain, the same blockchain network that already moves about $7 billion a year in supply‑chain finance.

JD com Chairman Richard Liu said the company plans to apply for stablecoin licenses globally to reduce cross-border payment costs by 90% and cut settlement time to under 10 seconds. After B2B, JD aims to expand stablecoin payments to consumers worldwide. JD is one of the largest…

— Wu Blockchain (@WuBlockchain) June 17, 2025

Image: PYMNTS

Speed And Cost Benefits Highlighted

Based on reports from JD.com, fees could fall by as much as 90%. For many exporters and wholesalers, slashing costs and waiting times could free up cash flow and cut paperwork.

Companies that once dealt with multiple banks and clearinghouses would trade directly with buyers using stablecoins pegged to local currencies. That shift could save millions in bank charges every year.

Total crypto market cap currently at $3.21 trillion. Chart: TradingView

Consumer Platform Ambitions

JD isn’t stopping at business deals. The plan is to tie stablecoins into its e‑commerce checkout experience for nearly 600 million active users. With warehouses and delivery routes in 20 countries, JD could let shoppers pay in digital tokens anywhere the company ships.

Analysts say JD.com may even nudge its vast network of merchants to accept Jingdong’s own stablecoin, helping people switch from cash and cards to a faster digital option.

Image: Asia Fund Managers

Regulatory And Competitive Hurdles

Hong Kong’s Stablecoin Ordinance, set to roll out in full by August 2025, gives players like JD and Ant Group a clear path to approval. Still, moving money across borders means jumping through legal hoops in multiple jurisdictions.

Based on industry chatter, Ant’s Alipay arm is lining up for licenses in Singapore and Luxembourg at the same time. Western firms such as PayPal and MasterCard already have token‑based systems under test. JD will need solid compliance and local partners to keep pace.

Market watchers estimate the global stablecoin market at roughly $250 billion this year, with growth to nearly $1 trillion by 2030. That surge is driving banks and tech firms to rethink payments.

JD.com’s bet is that its existing blockchain, tied directly into retail and finance, gives it an edge. It’s a big bet, but if the pilot proves out, waiting days and paying steep fees could become a thing of the past for companies and consumers alike.

Featured image from South China Morning Post, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





Source link

0 comments
0 FacebookTwitterPinterestEmail
TrueGPU
Gaming Gear

China’s first 6nm domestic GPU with purported RTX 4060-like performance has powered on

by admin



Lisuan Technology, a Chinese graphics card startup, has announced via the company’s official WeChat account that its forthcoming G100 graphics card has successfully powered on, marking a significant milestone in its deployment. The G100 purports to be China’s first domestic 6nm graphics card.

As China embarked on its journey towards technological independence, a wave of industry veterans joined the gold rush. Founded in 2021, Lisuan Technology is among the youngest startups in the graphics card sector, alongside Moore Threads (2020) and Biren (2019).

Lisuan Technology has considerable backing, as it was reportedly established by industry veterans boasting more than 25 years of experience in Silicon Valley. The same can be said for Moore Threads, which was founded by Zhang Jianzhong, the former vice-president and general manager of Nvidia China.


You may like

Little information is available regarding the G100, besides its use of Lisuan Technology’s proprietary TrueGPU architecture. In contrast to some Chinese firms that license intellectual property (IP) from sources like Imagination, TrueGPU asserts that it is an in-house architecture developed from the ground up.

Lisuan Technology previously stated that the G100 is created using a 6nm process node but did not reveal the manufacturer. Due to U.S. export restrictions, China cannot access the 6nm node, ruling out Samsung and TSMC as options. As a result, it is likely that the Chinese foundry SMIC is responsible for producing the silicon using its 6nm manufacturing process, which is also implemented for Huawei’s latest Ascend 920 AI chip.

With limited information, we can only rely on rumors regarding the specifications of G100. For example, it is claimed that the G100 provides performance similar to the GeForce RTX 4060. This claim generates significant skepticism, as the GeForce RTX 4060, despite being a last-generation product, is still regarded as one of the best graphics cards available; we have yet to see a Chinese-made graphics card rival it.

Additionally, the G100 is rumored to feature ample memory and modest power consumption. The G100 reportedly supports popular APIs such as DirectX 12, Vulkan 1.3, OpenGL 4.6, and OpenGL 3.0, suggesting that G100 could be a decent gaming graphics card.

Work on the G100 started in 2021, with Lisuan Technology originally aiming for a 2023 launch. However, financial difficulties obstructed these plans, and by 2024, the company neared bankruptcy. To support the struggling startup, Dongxin Semiconductor, its parent company, provided a substantial financial boost of $27.7 million, enabling continued development of the G100.

Lisuan Technology has successfully obtained the first G100 chips from the foundry, and they are operational. The outcomes seem to meet the startup’s expectations. As a result, the company has moved forward with software and hardware validation as well as driver optimization.

Clearly, the G100 has considerable progress ahead before reaching the retail market. It is reportedly in the tape-out phase and is currently undergoing risk trial production. Completing a 6nm tape-out requires substantial time and investment, indicating that Lisuan Technology is at a pivotal point in G100’s development. Lisuan Technology intends to deliver small quantities of G100 in the third quarter of this year. Nonetheless, given the timeline, mass production likely won’t happen until 2026.

Targeting the performance of the GeForce RTX 4060 isn’t bad; however, the G100 needs to function as a reliable graphics card right from the start. It’s unreasonable to expect Lisuan Technology’s first attempt to compete with the likes of Nvidia, AMD, or even Intel.

Creating a good graphics card from scratch demands considerable time and effort. Moore Threads has demonstrated that the software aspect is just as crucial as the hardware, given that new driver updates can significantly boost performance. We might see the first benchmarks for the G100 before the end of the year.

Follow Tom’s Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close