Tencent and Alibaba to expand in the Philippines

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Published on July 12, 2019
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Tencent is expanding its Philippine presence with the acquisition of a minority stake in Voyager, a digital commercial services firm valued at $175 million. This follows the investment by Alibaba in Mynt, which is an internet portal, social network, news, sports and games provider. This can be seen as a way for both Tencent and Alibaba to not only expand across Asia but also to develop technologies that are frowned upon in China such as digital currencies or outright outlawed such as ICOs.  Chinese firms are being cautious in the area of cryptocurrencies even as they become major players in blockchain.

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Category :  Recent News
Tags :  blockchain , cryptocurrencies , Tencent

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