Wintermute, one of the largest crypto market-making firms, secured funding from Chinese tech giant Tencent. The firm has faced accusations of market manipulation in the past. Market makers aren’t performing black magic—but what exactly do they do?

The company also unveiled its “1+1+1” model, which aims to create an open global payment network, harnessing Chinese innovation to drive borderless payment.

WeChat Pay users can now pay with their palms at the Beijing subway. The biometric payment mechanism will soon be rolled out to other locations, but privacy concerns might setback its adoption