Also, China removes social media accounts of thousands of independent news media, and more

Razer Pay to test blockchain-based remittance platform – [press release]

Razer’s e-payment platform, RazerPay, has announced that it is collaborating with The FinLab on a Proof-of-Concept (POC) to test blockchain-powered remittance.

The FinLab is United Overseas Bank’s (UOB) FinTech and innovation accelerator.

Using blockchain to remit money is safer, secure and more transparent. The POC aims to prove that it will work.

Razer Pay will develop the technical aspects of the product while The FinLab will guide them in business functions such as the settlement and the sending and receipt of remittance messages.

In the same announcement, Razer Pay said it will be bringing UOB’s transaction banking services, cash management and foreign exchange (FX) solutions to Southeast Asia.

At the same time, UOB will also process payments for Razer Pay’s global network of merchants and offer competitive FX rates to Razer Pay Singapore users when they make in-app purchases in a foreign currency.

Baidu puts over US$600 million into NetEast Music Cloud – [DealStreetAsia]

Chinese internet giant Baidu has put US$600 million into NetEase’s music streaming service, NetEase Music Cloud, according to a report by DealStreetAsia.

Participating investors include General Atlantic and Boyu Capital.

NetEast Music Cloud was launched in April 2013, and currently has 600 million registered users.

Chinese government removes social media accounts of many independent news media – [Reuters]

China’s cyber authority, Cyberspace Administration of China, has removed 9,800 social media accounts of independent news media, said a Reuters report.

Independent news media in China are defined as those that have not registered with the Chinese authorities.

These accounts were expunged they were allegedly posting politically harmful (or false) or vulgar web content.

China also warned local social media giants, Tencent’s WeChat and Sina’s Weibo, on their failure to rein in harmful content.

Indonesia’s eFishery raises US$4 million – [e27]

Indonesian agritech startup eFishery today announced that it has raised a US$4 million funding round from Aqua-spark, Wavemaker Partners, 500 Startups, Maloekoe Ventures, Social Capital, Unreasonable Capital, and other institutional investors.

Also Read:Alibaba’s Jumpstarter event to showcase 100 global startups in Hong Kong

Launched in 2013 by co-founders Huzaifah and Chrisna Aditya, the startup provides IoT solutions and data platform for fish and shrimp farming business.

Its solutions aim to solve the problem of overfeeding, which directly affects productivity, by helping farmers monitor and schedule feeding times.

eFishery will use the new funding to scale its platform and refine its operating model.

WeWork to launch in the Philippines next year – [press release]

US shared spaces giant WeWork will officially launch in the Philippines next month, starting with its capital, Manila.

It will be located in Uptown Bonifacio Tower Three, Bonifacio Global City (BGC), and will accommodate 800 members across two floors.

WeWork is also gearing up for its expansion to Makati City in early 2019.

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