Good morning, here’s what you need to know today.
1. Digital assets exchange Zipmex launches in Thailand
Digital assets exchange platform Zipmex has officially made its Thailand debut with its official license from the SEC, after launching in markets such as Singapore, Indonesia and Australia.
Zipmex’s mission? To make investing essentially available to everyone, and traders can access the platform 24 hours a day, every day of the week, if you’re really enthusiastic. To get over the barrier that crypto trading is often “sketchy”, Zipmex uses a secure custody solution with insurance from one of the largest banks in the United Kingdom.
The platform was built on the belief that blockchain has powered and paved ways for new kinds of investments, one without time constraints, a real time settlement, investment perks that goes beyond dividends and takes the forms of services and products and a truly global landscape where opportunity isn’t limited to to Thailand. Of course, investors must educate themselves before starting to trade, the platform also allows you to start very small.
What else? To celebrate its official Thailand debut, Zipmex has partnered with Thai companies including Thaivivat Insurance, The Sala Hospitality Group, Traveloka, and The Water Library Group under the campaign of “Travel Anywhere, Trade Anytime”, where prizes will be given to users who referred most friends to sign-up for Zipmex. Prizes will range from a 2 nights stay in Sala Phuket to a Traveloka gift voucher. The winners will be announced on 20th July.
Want to dip your toes into crypto trading or get a free vacation? Head over to Zipmex and just complete the one step sign-up.
2. Uber acquires food delivery player Postmates
Uber confirms its acquisition of US food delivery platform Postmates in a US$2.65 billion all-stock deal. It plans to run the business alongside its own food delivery business, Uber Eats.
The Postmates app will be kept running seperately to Uber Eats, while merging some of the tech and delivery operations at the back end.
That deal itself sprung up in the wake of Uber failing to acquire another competitor, Grubhub, which was instead Europe’s takeout giant Just Eat Takeaway.
Uber in its news announcement described Postmates as “highly complementary” to Uber Eats, and notes Postmates’ strong relationship with smaller restaurants as well as loyal businesses that extends beyond food delivery.
In its last quarterly earnings results, the Uber Eats business grew 52% and managed to somewhat offset a big decline in its ride-hailing revenues. Business has been tough for Uber, and acquiring Postmates doesn’t ensure that its journey in food delivery will be easy. The wider business model of food delivery requires a lot of subsidising to grow, so taking out a competitor somewhat reduces that kind of costly competitive pressure, but doesn’t eradicate it completely.
3. Hong Kong police gets heightened powers with new security law
Hong Kong asserted new police powers following the approval of the new security law, which will give police the authority to carry out warrant-less searches to online surveillance and property seizures and travel restrictions, to a select group of people who defies the laws.
The rules were intended to help “prevent, suppress and impose punishment for offenses endangering national security,” the Hong Kong government said in a statement yesterday.
The law has already prompted Google, Facebook and Twitter to suspend processing user data requests over concerns that authorities could use the measure to curb freedom of expression.
4. Peter Thiel’s “secretive surveillance” startup Palantir has filed for an IPO
Palantir, the secretive big data and analytics startup co-founded by tech veteran and billionaire founder of PayPal Peter Thiel has confidentially filed paperwork with the U.S. Securities and Exchange Commission to go public.
Palantir did not say when it plans to go public nor did it provide other information such as how many shares it would potentially sell or the share price range for the IPO. This is pretty much in line with how the company operates; very secretively. Palantir works with the US government as well as the intelligence community in often controversial projects.
Investigation revealed that Palantir’s data mining software was used to create profiles of immigrants and aid deportation efforts in the US. It also worked with the UK government in tracking the spread of Coronavirus, and was given access to sensitive personal data such as patients’ names, age and X-Ray results.
