Monaco buys domain name, Xiaomi IPO fails to meet expectation | Digital Asia

News Update


Crypto debit card company Monaco buys – TechCrunch

Hong Kong-based crypto debit card company Monaco announced a rebrand to following its undisclosed purchase of the high-prized name, TechCrunch wrote.

Registered in 1993 by University of Pennsylvania professor Matt Blaze, the domain name has gathered wide interest following the increasing popularity of cryptocurrency, but Blaze insisted on not selling it.

According to Monaco CEO Kris Marszalek, the reason why Blaze finally agreed to sell it was not “only about the money.”

Experts have predicted that the domain name would attract as high as US$10 million.

Xiaomi IPO meets weak demand – Bloomberg

Chinese smartphone maker Xiaomi’s debut in the trading floor is off to a “bad start” before it began official trading in Hong Kong on Monday, Bloomberg reported.

Citing two anonymous sources, the report said that some institutional investors saw bids for the company’s shares as low as HK$15.20 on Thursday with no offers in gray-market trading, or 11 per cent below the issue price.

Initially believed to be one of the world’s most highly anticipated IPO of the year, the company’s IPO has been overshadowed by US-China trade war.

Also Read: Today’s top tech news, May 03: Xiaomi officially files for Hong Kong IPO to raise US$10B

Indonesia to launch conglomerate-backed tech fund: Minister – Reuters

Indonesia’s minister of communications and informatics Rudiantara announced on Thursday that a new venture capital fund backed by local conglomerates is set to be launched “within the next six months,” Reuters reported.

Supported by the ministry, the fund’s structure is currently being discussed with the country’s financial service authority (OJK). The fund size has not been disclosed.

Conglomerate Sinar Mas Group has stated their interest in contributing to the fund.

Thailand launches cashless train tickets at major stations – Bangkok Post

The State Railway of Thailand (SRT) has introduced the use of QR code as an alternative payment method for railway passengers, Bangkok Post reported.

The code readers have already been installed in 56 main stations across the country with 14 of them in Greater Bangkok.

The firm said that the introduction is in line with trends and customers’ changing behaviours, though SRT’s own figures revealed that 92 per cent of customers are still using cash to pay for tickets.

Image Credit: Christopher Burns on Unsplash

The post Today’s top tech news, July 6: Monaco buys domain name, Xiaomi IPO to expectation appeared first on Tech News.

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