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LATAM CHINA TECH 8 Bit of News

LATAM CHINA TECH 8 Bit of News: delivering a little bit on the latest innovations shaping Latin America and China. Stay informed with 8 curated cross-border updates on technology, innovation, and startups.

LatAm Tech

May Thrive In Adversity

Source: https://www.ft.com/content/8b2347ed-ebc6-4dae-8537-f2d7ccfae594

Latin America’s tech sector defies the US slump as Mercado Libre thrives, hiring 13,000 new employees and outperforming Nasdaq. Discover the region’s untapped potential, fintech revolution, and hurdles-turned-opportunities for startups. Investors remain optimistic despite tighter funding conditions.

Brazil Startup Funding:

86% Drop

Source: https://www.forbes.com/sites/angelicamarideoliveira/2023/04/11/funding-for-brazilian-startups-plunges-86-in-q1-2023

Brazilian startup funding suffers an alarming 86% plunge in Q1 2023, raising concerns for the country’s entrepreneurial landscape. Discover the factors contributing to this downturn and the potential consequences for Brazil’s vibrant startup ecosystem

SoftBank Funds

Black & Latinx

Source: https://globalventuring.com/corporate/us-and-canada/softbank-launches-150m-fund-for-black-and-latino-founders

SoftBank launches a $150m Open Opportunity Fund 2, focusing on Black and Latinx-founded startups. The rebranded fund, open to external investors, aims to support diverse founders in solving problems and building meaningful companies. The previous Opportunity Fund has invested over $100m in 75 companies to date, with several successful exits.

WeChat launches

Palm Payment

Source: https://www.scmp.com/tech/big-tech/article/3221377/tencent-launches-palm-payments-beijing-allowing-metro-passengers-pay-wave-hand

Tencent launches palm payment service in Beijing, enabling metro passengers to pay by scanning their palms. Developed by Tencent’s YouTu AI lab, the technology uses unique palm prints for automatic payment through WeChat. Privacy concerns arise, but users anticipate convenience and an easier payment experience. Tencent aims to extend palm payments to additional contexts in the future.

China’s

Quantum Computing Cloud

Source: https://www.chinadaily.com.cn/a/202305/28/WS6472ef22a310b6054fad56fe.html

China introduces a new quantum computing cloud platform developed by the Beijing Academy of Quantum Information Sciences, Institute of Physics, and Tsinghua University. The platform allows researchers to perform complex computational tasks and offers the public an opportunity to experience quantum computing at incredible speeds. It has already attracted thousands of users and supports open quantum assembly language and a user-friendly graphic interface.

China-LatAm

Digital Economy in SZ

Source: https://news.cgtn.com/news/2023-05-25/VHJhbnNjcmlwdDcyNTU1/index.html

Latin American entrepreneurs gather in Shenzhen to explore digital economy cooperation, seeking new opportunities for growth and transformation in the post-pandemic recovery. The region’s focus on digitization and talent development aligns with global trends and brings great opportunities for LatAm-China cooperation.

Meet Liquido,

the ‘Stripe of LatAm’

Source: https://techcrunch.com/2023/05/04/fintech-liquido-stripe-of-latam-payments

Liquido, a startup targeting the Latin American market, offers core payment services to modernize businesses’ access to digital payments. With over $300 million processed in payments during its closed beta, Liquido aims to simplify online purchases by accepting various forms of payment and reducing fraud.

EBANX To Be In

11 African Countries

Source: https://techcrunch.com/2023/05/24/ebanx-we-will-be-operating-in-11-african-countries-by-the-end-of-the-year

Brazilian fintech EBANX is expanding its operations into Africa, targeting 11 countries by the end of the year. The company, which previously provided local payment solutions in Latin America, sees Africa as the “next big frontier” for e-commerce and payments. EBANX aims to simplify cross-border transactions for global merchants by offering access to over 100 payment methods specific to each market.

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