Recently, local governments in China have launched pilot programs for foreign investments; Qualified Domestic Limited Partner (QDLP) was launched in 2013 in Shanghai which has since expanded to other cities; the Qualified Domestic Investment Enterprises (QDIE) launched in Shenzhen; both require a formation of an onshore fund in one of the pilot cities; Mondaq outlines more details of these programs including differences of the programs and other requirements in their recent article. Source
SoFi is advertising job openings in Australia and appears to be planning international expansion of its mortgage lending business; firm has been expanding its mortgage lending in the US, now offering mortgage loans in 27 states; the expansion to Australia would be the first international effort for the P2P lender and one of the first marketplace loan offerings for mortgages in the country. Source
Juzhen is developing new blockchain technology for banks that will focus on privacy, biometrics and access control; the firm is the largest China-based blockchain startup; it is working with the ChinaLedger blockchain consortium and has a thorough understanding of the Chinese market's infrastructure and banking culture. Source
Chinese P2P lender Dianrong has announced its 2016 financial results; loan originations increased 148% from 2015 to approximately RMB 16.23 billion ($2.36 billion) in 2016; the firm's investor base grew to 3.62 million investors; loan loss rates were low overall with a 1.17% cumulative non performing loans rate and 2.46% current non performing loans rate; average interest rate earned by investors was approximately 7%; the firm says new regulations in China have helped large firms with established brands like Dianrong and sees continued growth ahead for the business. Source
Business marketplace lender Loan Frame has announced a $2.25 million fundraise that will help the firm expand its business in India as demonetization and the Indian economy present new opportunities for growth; participants in the $2.25 million funding round included the co-founder of Vedanta Capital, the former chairman of Visa International and the co-chief executive of MIO Partners; the platform has stated it is seeking to build the largest small and medium-sized business lending marketplace in the sub-continent; expects to lend $150 million over the next two years with both secured and unsecured loans. Source
Australian robo advisor SuperEd is seeking AUS$6 million (USD$4.53 million) to expand its services; the founders expect to use the funds to provide white label robo advisory services for Australian superannuation funds; the robo advisor is also developing tools for analyzing retirement income from the funds. Source
China's major bitcoin exchanges halted trading on Friday, January 13 and the platforms are updating their trading terms; some have yet to reopen and others are operating with trading restraints, reports CoinDesk; the changes follow discussions between Chinese bitcoin exchanges and regulator People's Bank of China. Source
The Japan Exchange Group has been approved to use blockchain in trading and will begin testing blockchain on the Tokyo Stock Exchange; its approval follows a previous restriction on blockchain's use in exchange trading; with the approval the Japan Exchange Group may also explore artificial intelligence; other market exchanges working on blockchain developments include Myanmar's Yangon Stock Exchange and the Nasdaq; the Bank of Japan has also reported increased research in the use of fintech. Source
Chinese regulators are considering custodian requirements for bitcoin to help mitigate effects from its market risks; the custodian support appears to be welcomed by platforms and investors in China; overall, Chinese regulators are taking a more active role in bitcoin market activity as Chinese investors increasingly account for a majority of bitcoin's trading volume. Source
Predictions in 2015 estimated that within 20 years half of the jobs in Japan could be done by robots; the Nomura Research Institute worked with Michael Osborne in 2015 to study 600 jobs in Japan reporting that 49% could be replaced by computer systems; since the 2015 predictions there has been a continued trend toward artificial intelligence with Japanese insurance company Fukoku Mutual Life Insurance releasing one of the first public announcements on artificial intelligence replacing a significant portion of workers in its payment processing department in January 2017. Source