WeChat Invests $70 Billion in Fintech, Including Blockchain and AI
Cointelegraph
Published May 26, 2020 09:33PM ET
Updated May 26, 2020 11:20PM ET
Chinese tech giant Tencent Holdings (OTC:TCEHY) will allocate nearly $70 billion (500B yuan) over the next five years in fintech development, including blockchain, cloud computing, and artificial intelligence (AI).
Reuters reported on May 26 that the company, which is behind the WeChat messaging app, hopes to strengthen the development of fintech across the country, following the recent embrace of blockchain by the Chinese government.
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Written By: Cointelegraph
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