Tencent investment Philippines digital service company

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Introduction As the Internet giant with a market value of 400 billion US dollars, Tencent and Ali's every move has received full attention. In the layout of various fields of the Internet, the two sides are highly competitive.

As the Internet giant with a market value of 400 billion US dollars, Tencent and Ali's every move has received full attention. In the layout of various fields of the Internet, the two sides are highly competitive. Due to the extensive investment layout, domestic companies are also divided into “Tencent” and “Ali” due to the strategic investment of the two companies.

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In addition to China, Tencent and Ali are also active in laying out the global market. Southeast Asia is one of the most concerned markets. The scope of investment involves a wide range of areas, including those related to blockchain and cryptocurrency.


On October 4th, KKR, an industrial investment institution, announced that it had invested US$175 million with Chinese Internet giant Tencent to acquire a minority stake in financial technology company Voyager Innovations. Voyager is a subsidiary of Philippine Long Distance Telephone Company (PLDT), the largest telecommunications and digital services company in the Philippines. PLDT is still the largest shareholder of Voyager. Voyager is a company that provides digital services to local people in the Philippines, including digital wallets, remittances, and lending. Through this acquisition, KKR and Tencent will hold assets like mobile wallet PayMaya and digital lending platform Lendr.


Alibaba is not to be outdone in this regard. As a member of the Alibaba, Ant Financial invested in the financial investment company Mynt in the Philippines. In 2017, Mynt announced the introduction of Alipay's parent company Ant Financial and the Philippines' Ayala, the country's largest real estate developer, with a 45% stake in Ant Financial and Ayala A minority.


It is understood that Voyager's services include rechargeable sub-accounts, retail electronic payments, peer-to-peer payments, online loans, and credit assessments; Mynt is similar, providing payments, transfers and loan services for individuals and businesses, which means that Mynt is in a favorable competitive relationship with Tencent's Voyager.


At the same time, there are also rumors that Ali is considering introducing a cryptocurrency exchange to improve its ecosystem and financial infrastructure further. Therefore, Ali will cooperate with the Tron.Network. Tron.Network will assist in setting up a cryptocurrency exchange. By sharing the analysis report, we will explore how to build a more popular exchange based on popular exchanges like Coinbase and Binance.


    Adapted from: CoinTime Executive editor: Ray
Declaration:The purpose of COINTIME in carrying out more information does not mean endorsing its view or confirming its description. The article is for reference only, does not constitute investment proposal. Investors operate on the basis of risk.
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