China’s fintech ambitions drive interest in Venom Blockchain
Reports from Toutiao indicate that a leading Chinese fintech company is in discussions to acquire blockchain technology from the Venom Foundation. While details of the negotiations remain confidential, sources suggest the goal is to integrate Venom’s infrastructure into financial services that support the real economy, from supply chain finance to cross-border settlements. The talks echo a familiar pattern. Chinese companies have a track record of moving into blockchain and digital asset sectors through bold acquisitions or strategic pivots, triggering market reactions. One notable case came from the crypto exchange Huobi, which pursued a strategy of overseas acquisitions starting in 2018, buying licenses and platforms in Japan and Singapore after Beijing tightened domestic regulation. The strategy enabled Huobi to maintain a global presence despite restrictions at home, though it also underlined how Chinese players often rely on foreign partnerships to keep pace with glob...