article thumbnail

Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It eventually entered that field itself, and then it became a social media platform. Tencent and Alibaba both invested in that round.

article thumbnail

Bitcoin Joins American Express and PayPal on 2017 List of Social Media Darlings

Bank Innovation

American Express is the “most-loved” financial service on social media in 2017, according to a recent report, followed by PayPal, Vanguard and bitcoin. To find out which brand was the consumer favorite, at least on social […].

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Facebook wants its cryptocurrency to one day rival the greenback

Bank Innovation

unveiled plans for a new cryptocurrency that the social-media giant hopes will one day trade on a global scale much like the U.S. Facebook Inc.

article thumbnail

Japan’s Line Social Network Approved To Trade Cryptocurrency

PYMNTS

Japanese social media network Line can begin trading its own digital currency among its 700 million users beginning in April 2020. As a result, Line began its own exchange, BITBOX, that enabled Link currency users in areas challenged by regulations to engage in trades with the cryptocurrency.

article thumbnail

U.K. Treasury Increasing Cryptocurrency Ad Regulations

PYMNTS

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. That includes a ban on advertising their “services in public areas in Singapore or through any other media directed at the general public in Singapore.”.

article thumbnail

New Ransomware Uses Social Media, Demands Payment in Bitcoin

Bank Innovation

A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin.

article thumbnail

Facebook Likes Payments: Cryptocurrency, Not So Much

Bank Innovation

EXCLUSIVE – Payments might not be a substantial portion of social media platform Facebook’s revenues, but it is an important one — particularly as non-payment companies increasingly begin to launch payment capabilities for social media platforms such as Messenger.