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On March 23, Li Lecheng, Minister of Industry and Information Technology, and Vice Ministers Xin Guobin and Xiong Jijun met separately in Beijing with Tim Cook, CEO of Apple Inc.; Cristiano Amon, President and CEO of Qualcomm Inc.; Guo Luzheng, President and CEO of SK Hynix Co., Ltd.; Mark Obermünster, Chairman of the Board of Management of Volkswagen Group; Ola Källenius, Chairman of the Board of Management of Mercedes-Benz Group; and the Chairman of the Board of Management of Siemens AG, who were in China to attend the China Development Forum 2026. Officials from the Ministry of Industry and Information Technology stated that China is vigorously promoting new industrialization, accelerating the construction of a modern industrial system with advanced manufacturing as its backbone, consolidating and strengthening the foundation of the real economy, and ensuring a good start to the 15th Five-Year Plan. China will further deepen reforms comprehensively, continuously expand high-level opening-up, create a first-class business environment that is market-oriented, rule-of-law based, and internationalized, and share the opportunities of Chinas modernization with all parties. They expressed hope that multinational corporations will continue to deepen their presence in the Chinese market, collaborate with upstream and downstream enterprises in Chinas industrial chain for innovation and growth, and achieve mutually beneficial development.Market news: Nvidia and Emerald AI have joined forces with leading energy companies to pioneer the use of flexible AI factories as grid assets.According to Hong Kong Stock Exchange filings, Xiaomi Group repurchased 3.1 million Class B shares for HK$100 million on March 23.On March 23, Liu Jiannan, Vice Chairman of the China Council for the Promotion of International Trade (CCPIT), met with a delegation led by Xu Xinxiong, CEO of Thailands TCP Group, in Beijing. Liu briefed them on the "15th Five-Year Plan" policy regarding accelerating the construction of a healthy China and exchanged views on supporting TCP Groups development in China and its participation in APEC business activities. On the same day, Liu also met with a delegation led by Lu Boda, President of Ralph Lauren, and Ambassador Kang Da, Partner of US-based Asia Group, in Beijing. Liu briefed them on the policies of the National Peoples Congress and the Chinese Peoples Political Consultative Conference (NPC and CPPCC) regarding further expanding high-level opening-up and exchanged views on deepening international cooperation in industrial and supply chains and promoting the healthy and stable development of China-US economic and trade relations.On March 23, China Hongqiao (01378.HK) announced in Hong Kong that on March 23, 2026, pursuant to the share repurchase mandate, the company purchased 25,895,500 ordinary shares of the company at the highest and lowest prices of HK$32 and HK$30.12 per share, respectively. The Board believes that the companys current share price deviates from its value and does not rule out further share buybacks depending on market conditions.

Binance and Mastercard to Launch Prepaid Card in Inflation Battered Argentina

Jimmy Khan

Aug 05, 2022 14:50

On August 4, Binance announced a partnership with Mastercard (MA) to launch the "Binance Card" in the economically troubled country of Argentina.


The prepaid card aims to bridge the gap between cryptocurrencies and conventional transactions, claims the statement. It was also mentioned that Argentina was the first country in Latin America (LATAM) to receive the items.


Binance Card is the company's most recent effort to broaden the use of bitcoin and electronic payments, but it is still under development.

Worldwide Payments Using Crypto Cards

Everyone in the country who has a valid national ID card may conduct bitcoin transactions and pay bills using the Credencial Payments credit card. More than 90 million physical and online Mastercard companies will accept the card globally.


The retailer will get a real-time fiat conversion of the bitcoin balance on the card. Additionally, cardholders may get up to 8% in bitcoin cashback on certain purchases, as well as 0% ATM withdrawal costs. Users may see and manage transactions and payments via the Binance website and mobile app.


According to Walter Pimenta, Executive Vice President of Products and Innovation at Mastercard Latin America, the company's "operation with digital currencies builds on our robust basis to give choice and peace of mind when clients buy and pay."


Payments are one of the first and most obvious uses for cryptocurrencies, but Maximiliano Hinz, general director of Binance in Latin America, said that adoption still has a lot of room to grow.


As Argentinians deal with increasing inflation and increased living costs, the decision was reached. 


According to Trading Economics, the country's astonishing 64 percent inflation rate in June was among the highest in the whole world. 90 percent is predicted to be reached by year's end.


Many people have already begun to hold dollar-pegged stablecoins like Tether (USDT) and Circle's USDC in order to hedge against the Peso's fast devaluation. Since this time last year, the Peso's value against the US dollar has decreased by more than a third. As a result of increased demand, stablecoins are more costly on Argentine exchanges.


The president of Argentina has swore in three new economics ministers in the last month. Sergio Massa has pledged to stop the excessive money creation that fuels inflation.

Markets for cryptocurrencies grow

The cryptocurrency markets have stayed steady over the last 24 hours, with a little dip in total capitalization to $1.1 trillion. Since their seven-week and weekend highs, the market has lost over $50 billion.


In response to the announcement, the BNB token on Binance performed strongly, bucking the daily fall with a gain of 2.5 percent and climbing back to levels above $300. BNB has fared considerably better than its rivals during the crypto storm, having "only" lost 55 percent of its value from its peak in May 2021.

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