News

According to a report by Jinse Finance, European Central Bank Governing Council member Kazaks stated that a 10% tariff imposed by the United States and an appreciation of the euro by more than 10% would be enough to negatively impact exports. Any further rate cuts will be very limited. (Jin10)

According to Jinse Finance, Newland (000997.SZ) announced that its controlling subsidiary, Hong Kong Xingyi Payment Co., Ltd., has completed the establishment of its wholly owned subsidiary, NovaPay US Inc., which has obtained an MSB license granted by the US FinCEN. NovaPay US Inc. has a registered capital of USD 1, and its business scope includes currency transactions or transfers, such as currency exchange and international remittance services. By obtaining the US MSB license, the company aims to provide legal access qualifications for cross-border fund operations, covering scenarios such as currency exchange, remittance, and digital currency transactions. This will provide infrastructure for connecting with major global financial institutions, lay the foundation for the development of cross-border payment-related businesses, support the company’s global strategic expansion, and make a significant contribution to realizing its vision of becoming a leading digital commerce enterprise.