12/29/2023 0 Comments Chinese crypto exchange binance![]() The start-up’s innovative business model has helped some renters save for a down payment on their home, but others have walked away frustrated by the company. ![]() USA: Divvy Wants to Make Rent-to-Own Deals Easy. In former East Berlin, Sam Altman’s Worldcoin is scanning irises for tokens-under the watchful eye of European privacy watchdogs. Global: 'Show Your Face to the Orb': Eyes-on With Sam Altman's Worldcoin Stavvy, a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace, a digital mortgage servicing platform. A strong foothold in China (however shady) could be critical to its survival.ĪLSO MAKING NEWS USA: Fintech Stavvy acquires servicing tech firm Brace With its KYC practices under scrutiny elsewhere, the allegations that Binance “took a relaxed attitude to verifying the identity of users,” come at a vulnerable time.Īlready, Germany has denied the company a licence. ![]() The news comes at a time where Binance faces an onslaught of regulatory pressure in the US and beyond. In addition, internal sources have said the company have taken a decidedly lax approach to customer onboarding. However, the WSJ claims internal documents show Binance has helped China users bypass restrictions, while announcing publically that measures have been put in place to honour the ban. Its crypto’s worst kept secret that China, despite the ban, is a key originator of crypto trading volume - the fourth-largest market worldwide.Ĭhina’s central bank, has declined to comment, while a Binance representative stands firm in the affirmation that continues to remain blocked to users based in China. In May 2023, China-based customers traded $90 billion. If the figures are to be believed, it would make the country Binance’s most important market for trading. This is despite the nation making cryptocurrency trading illegal in 2021. Internal figures have emerged showing that 20% of Binance’s trading volume comes from China.
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