Chinese Zest for Bitcoin

Note from the Publisher:  This article is actually NOT about citrus, but rather about a second investment by Chinese search engine Baidu into a US fintech NAMED Zest (there’s the tie in!), which may result in that internet firm accepting Bitcoins again.  In fact, Chinese companies such as Baidu are gobbling up fintech companies faster than you can say “orange peel”.  This is not surprising since the majority of bitcoin trading is done in China, and they are way ahead of the rest of the world in this sector.

“The Chinese search engine Baidu could be moving towards resuming a strategy that will sooner or later lead it to start accepting Bitcoins – again.

The company is continuing with its growing interest in FinTech in a cross-connection manner between the Asian giant and the leading global market in the US by investing in a second U.S. fintech company in a month.

Baidu recently invested in a US blockchain company, Circle Internet Financial Inc., after the Bitcoin startup announced it had raised $60 million in funding from a consortium which was led by IDG, an American based media, data and marketing services and venture capital organization.

This time, it is investing an undisclosed amount into Zest, one of the fastest growing financial technology startups in the US, to develop a credit scoring platform based on search data to address a Chinese market whose traditional credit systems are broken.”

Read Full Article at CoinTelegraph