Latest news with #LouisLiu
Yahoo
18-07-2025
- Business
- Yahoo
Stablecoin payments firm KUN closes Series A round
KUN, a Hong Kong-based company specialising in stablecoin payments, has closed its Series A funding round with oversubscription. The company, which has been operational for 20 months, said it has raised more than $50m since its establishment. BAI Capital and GSR Ventures, existing investors, increased their investments, while a Hong Kong-listed conglomerate and Eternium Global, joined the round as investors. KUN reported a 200% month-over-month increase in transaction volume over the past 12 months and offers cross-border payment solutions for enterprise and institutional clients. KUN founder and CEO Louis Liu said: "KUN will leverage the proceeds from this round to deepen R&D investments in cross-border transaction security, underlying blockchain infrastructure, and wallet technologies, while accelerating upgrades of AI-driven intelligent risk control systems and compliance stacks (KYC/AML/KYT). 'Simultaneously, we will synergise our existing Hong Kong and Singapore licensing frameworks with global regulatory applications and institution network expansions. By collaborating with ecosystem partners worldwide, KUN aims to build a seamless Web2-Web3 hybrid digital payment network, strengthening its global operational foundation. Last month, KUN partnered with TradeGo, a digital platform servicing the global commodity trade market. The collaboration will integrate blockchain technology for electronic Bill of Lading (eBL), enhancing cross-border capabilities, and incorporate stablecoin settlement infrastructure. KUN operates with licences in multiple jurisdictions, including Hong Kong, Singapore, and Europe, primarily serving in Greater Bay Area, Southeast Asia, the Middle East, Africa, and Latin America. "Stablecoin payments firm KUN closes Series A round " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
02-07-2025
- Business
- The Star
Video shows drone rescuing stranded man during flood in China
This photo shows submerged buildings at a flood-affected village in Kaili, in southwestern China's Guizhou province on June 28, 2025. — AFP A Chinese drone operator was transporting the belongings of villagers displaced by flooding when he spotted a man on a roof. He used the drone to lift the man and move him to safety, the operator told a state broadcaster. The video, which was widely circulated on social media, showed an area in the Guangxi region, in southern China, flooded with green-grey water, and a man dangling from a long cord attached to the drone, which set him down on a road. The rescue happened more out of luck than design. The owner of the drone, Lai Zhongxin, normally uses his vehicles to spray fertilizer and transport construction materials, the CCTV report said. Drones have been used in south and southwestern China to provide aid to areas hit by torrential rains this past week. Hoisting large canvas bags filled with relief supplies, they flew over pools of floodwater and traffic-clogged roads, as extreme weather set off mass evacuations and emergency alerts. The drones also sprayed disinfectant on silt-covered fields. Louis Liu, the founder and CEO of DAP Technologies, a Beijing-based consultancy specializing in air mobility, compared the rescue of the man to an excavator being used to lift someone in a fire in the absence of other tools. 'Normally, people aren't allowed to use an agricultural drone to suspend a person in midair,' he said. 'But in an emergency, if someone is about to drown, that's something the law would overlook.' 'Developing drones specifically for rescuing people is definitely an area for development,' he added. 'Many in the industry are already attempting it.' Last week, firefighters in the southern city of Shenzhen carried out a drill using drones that flew up and down a glass skyscraper, spraying jets of water. Drones are already commonly used in cities like Shenzhen for delivering takeout food and packages. In March, China's Civil Aviation Administration issued approvals that would allow two companies, EHang and Hefei Hey Airlines, to operate drones for commercial passenger services. The role of drones has become more visible since last year, when Premier Li Qiang identified the 'low-altitude economy,' referring to the use of this technology in airspace under 1,000 meters (1,094 yards), as a national priority. – ©2025 The New York Times Company This article originally appeared in The New York Times.
Straits Times
02-07-2025
- Straits Times
Video shows drone rescuing stranded man during flood in China
Sign up now: Get ST's newsletters delivered to your inbox BEIJING - A Chinese drone operator was transporting the belongings of villagers displaced by flooding when he spotted a man on a roof. He used the drone to lift the man and move him to safety, the operator told a state broadcaster. The video, which was widely circulated on social media, showed an area in the Guangxi region, in southern China, flooded with green-grey water, and a man dangling from a long cord attached to the drone, which set him down on a road. The rescue happened more out of luck than design. The owner of the drone, Mr Lai Zhongxin, normally uses his vehicles to spray fertiliser and transport construction materials, the CCTV report said. Drones have been used in south and south-western China to provide aid to areas hit by torrential rains this past week. Hoisting large canvas bags filled with relief supplies, they flew over pools of floodwater and traffic-clogged roads, as extreme weather set off mass evacuations and emergency alerts. The drones also sprayed disinfectant on silt-covered fields. Mr Louis Liu, the founder and CEO of DAP Technologies, a Beijing-based consultancy specialising in air mobility, compared the rescue of the man to an excavator being used to lift someone in a fire in the absence of other tools. 'Normally, people aren't allowed to use an agricultural drone to suspend a person in midair,' he said. 'But in an emergency, if someone is about to drown, that's something the law would overlook.' 'Developing drones specifically for rescuing people is definitely an area for development,' he added. 'Many in the industry are already attempting it.' Top stories Swipe. Select. Stay informed. World US Senate approves divisive Trump spending Bill Singapore A second chance to excel: 3,800 private candidates taking O- and A-level exams in 2025 Multimedia Right on track: Meet the new JB-Singapore RTS Link train Opinion US strikes on Iran: The impact ripples on, from Baghdad to Beijing Singapore 'He fought till the end': Man who survived acid attack as a baby dies of cancer at 26 Singapore Judge rejects woman's claim that she owns 99% of Bukit Timah condo mostly paid for by ex-boyfriend Business Binance to keep hundreds of staff in Singapore despite crackdown, sources say Asia Thai PM's suspension could spell end of Shinawatra clan's era of political dominance Last week, firefighters in the southern city of Shenzhen carried out a drill using drones that flew up and down a glass skyscraper, spraying jets of water. Drones are already commonly used in cities like Shenzhen for delivering takeout food and packages. In March, China's Civil Aviation Administration issued approvals that would allow two companies, EHang and Hefei Hey Airlines, to operate drones for commercial passenger services. The role of drones has become more visible since 2024, when Premier Li Qiang identified the 'low-altitude economy', referring to the use of this technology in airspace under 1,000m, as a national priority. NYTIMES
South China Morning Post
31-05-2025
- Business
- South China Morning Post
Hong Kong's MTR Corporation opens the Island line in 1985 — from the SCMP archive
This article was first published on June 1, 1985. Advertisement by Francis Li and Louis Liu Massive roll-up as new line opens Huge crowds rolled up to try out the Mass Transit Railway Island line which went into operation without a hitch on Friday (May 31, 1985). An MTR Corporation spokesman said on Friday night more than 136,000 people travelled on the line between Chai Wan and Admiralty stations in the first five hours after it opened for commuters at 2pm. Rostered station staff helped by volunteer MTR workers turned out in force to help passengers, many of whom were first-time MTR commuters. Advertisement The Causeway Bay station was so busy that many commuters said they had to queue for nearly 20 minutes for a ticket, well before the evening rush hours.
Yahoo
29-03-2025
- Business
- Yahoo
GameStop Tumbles 25% Following Bitcoin Convertible Bond Plan. What's Happening?
Shares of GameStop (GME), the embattled video game retailer turned memestock darling, plunged 25% on Thursday, more than erasing all the gains since the company earlier this week announced it will add bitcoin (BTC) as a treasury reserve asset. GME fell to just above $21 during the session, trading at its lowest price since October and down over 28% from its Wednesday peak of nearly $30. The price action happened after the company unveiled plans late Wednesday for a $1.3 billion, 0% convertible note offering to raise money for its BTC acquisition plan. After an initial wave of euphoria among the crypto crowd, the hype died down on Thursday after investors took a closer look at the financing. "Many existing shareholders dislike the move, so a switch is happening with large volume," Louis Liu, chief investment officer of Mimesis Capital, said in an X post. The sharp sell-off may also have to do with the convertible bond pricing period, as prospective bond buyers might be selling or shorting the stock. James Van Straten, senior analyst at CoinDesk, noted that MicroStrategy (MSTR) and Semler Scientific (SMLR) shares also declined during pricing periods of their convertible note offerings. "We suspect that GameStop's share price will drift lower prior to the issuance of the convert, particularly given that a convert investor will receive a zero coupon and will be required to have faith that the GameStop meme phenomenon will persist for another five years," said Wedbush analyst Michael Pachter, who has an underperform rating on GME. Pachter argued that the company is following Strategy's playbook, but MSTR trades at less than twice the value of its bitcoin, while GME trades at more than twice its cash holdings. "We expect the offering to fall flat," Pachter continued. 'We find it hard to understand why any investor would pay more than 2x cash value for the potential for GameStop to convert that cash into BTC, particularly since the same investors can invest in BTC or a BTC ETF themselves.' GME is only the latest Wall Street firm to convert some of its cash into bitcoin. The trend started with Strategy, the company led by bitcoin proponent Michael Saylor, which years ago announced it would use its cash reserves to buy the cryptocurrency. MSTR's success following the transition caused many other companies to follow, especially recently as U.S. President Donald Trump has promised to make the U.S. the center for digital asset development. While Saylor has long vouched for more companies, especially those with large cash reserves, and even the U.S. as a country, to adopt bitcoin as a reserve strategy, not everybody agrees. 'Gambling on companies buying Bitcoin is not a good investment strategy,' said well-known bitcoin gadfly Peter Schiff in a post on X. '$GME has lost all of yesterday's Bitcoin-inspired 15% gain. Shares are now down 2% over the two days combined. Now that all the fools have already rushed in, smarter investors are selling as they realize that wasting cash buying Bitcoin is not a viable long-term business model.' Sign in to access your portfolio
