In today’s top payments news around the world, regulators in China are mulling over limitations on “loan-facilitation,” while the Financial Conduct Authority (FCA) said that younger traders are taking part in risky investments without completely understanding the possible downsides and effects. Plus, Indian companies have landed over $2 billion through initial public offerings (IPOs) to date in 2021.
China May Put Limits on Loan Facilitation
Regulators in China are thinking about restrictions on so-called “loan facilitation.” The term refers to a system in which digital lending platforms evaluate borrowers prior to matching them with lenders. In some instances, these platforms will assist with risk management for outstanding debts, but don’t risk any of their own funds.
UK Competition Watchdog Cautions Young Traders on Risky Investments
Younger traders are participating more often in risky investments without completely comprehending the potential downsides and effects, the FCA said in a press release. The research from the British competition watchdog looked at why and how individuals are jumping into high-risk investments such as digital currencies.
India Sees Highest IPO Funding in 13 Years
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Indian companies have raised over $2 billion via IPOs to date this year, the highest level of IPO fundraising in the nation since 2008. This comes on the heel of 2020, which saw companies in the nation notch $9.2 billion from IPOs. India isn’t the only nation bracing for a deluge of IPO funds, with Russia expecting over $10 billion in fundraising in 2021.
ByteDance Acquires Mobile Games Maker Moonton Technology
ByteDance advanced further into the video game world this week, with its Nuverse gaming division purchasing Shanghai games maker Moontoon Technology. Moonton, which was established by a former staffer of Tencent, made a name for itself in South Asia with its multiplayer online game Mobile Legends. Tencent reportedly made its own bid for Moonton, one that was matched by ByteDance.
