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Crypto

Chinese AI chip stocks trade first on crypto exchanges as overseas funds seek access

Overseas investors are effectively investing early in Chinese AI semiconductor companies through perpetual futures on cryptocurrency exchanges, an analysis said. With direct access to mainland Chinese equities limited, investors are betting on pre-listing prices via crypto derivatives. Trading has surged ahead of ChangXin Memory Technologies\' planned STAR Market listing. The products allow round-the-clock trading without owning shares and are seen as a way to bypass China’s foreign investment restrictions and perform price discovery before IPO pricing.

AI & Enterprise

Hecto Group steps up Hecto Academy in-house growth platform to share AI and global industry insights

Hecto Group is accelerating efforts to strengthen its in-house growth platform, Hecto Academy, by inviting experts in AI and global industries to share industry trends and business insights. The company said the programme helps employees share an understanding of the firm’s direction and priorities while building new knowledge and perspectives. It also runs coaching and training courses and promotes a 70:20:10 learning approach through challenges and communities.

Crypto

Augustus raises $180 million led by Tiger Global, CEO says

Venture capital firm Tiger Global led a $180 million Series B funding round for banking startup Augustus, with Hummingbird, QED and founders of Nubank, Ramp, Circle and Deel also taking part. The company was valued at $1 billion. Augustus plans to use the funds to expand services for fintech firms and banks in Latin America, Southeast Asia, the Middle East and Africa. CEO Ferdinand Davitz said the company aims to improve access to dollars abroad.