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China: the growth of prices for the shares of FINTECH companies

FXcoins - China: the growth of prices for the shares of FINTECH companies

Beijing plans to launch its own digital currency in the near future. As a consequence, the rapid rise in Chinese FINTECH company. The Chinese index CSI increased by 50% - this suggests that demand for financial technology is growing.

 

Shares of the Beijing center certifications grew by 200%, remember that this center provides services of electronic authentication. Also, the price of the shares 360 Security Technology Inc. has risen by 50%, the company is engaged in provision of network security and is the largest in China.

 

In August 2019 Mu Changchun, who is Deputy Director of the division of payment and settlement solutions to the people's Bank of China, pointed out that the development of the state of cryptocurrency is almost finished and soon will be available on the market. Representatives of brokerage Soochow Securities expressed its opinion - “we think that China's Central Bank will continue to use the current infrastructure of commercial banks, and the main carriers of personal digital currency will be smartphones”. The government assures that the cryptocurrency will be available on such platforms as WeChat and Alipay.

 

Starting 27 September, the price of Bitcoin started to drop - this indicates that kriptonyte begins to lose its momentum. If the morning of Friday, the price for Bitcoin was trading at $ 8 000 USD, then in the evening the figures dropped to 7 700 USD, losing about 5% per day.

 

Despite all the events, Changpeng Zhao, who is chief and founder of the exchange Binance said that it is expected to start as a passive income through staking. Zhao said that investing on the stock exchange will no longer require any drastic actions. Investors ' funds Binance will be automatically registered for staking.

 

ING chief economist mark Cliffe argues that cryptocurrencies like Libra from Facebook will make changes to the market and the tradition will begin to change. In order to balance the market, the world's Central banks will be forced to introduce its own cryptocurrency to maintain competition. Cliff makes the accents and the political sphere, pointing to a “sense of urgency” to the establishment of the state of cryptocurrency. Zoom digital currencies should affect the development of interest rates - says cliff.

30 September 2019

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