Tencent-Backed Kuaishou Pledges AI Efforts as Sales Growth Slows
Kuaishou Technology said artificial intelligence is what will drive users to its video platform after posting its slowest quarterly sales growth since its 2021 listing.
AI is the 'core engine that will drive our platform to create more value' for its commercial ecosystem while achieving traffic growth, the Tencent-backed internet company said in an exchange filing.
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Associated Press
3 hours ago
- Associated Press
Tencent Cloud Empowers Ryde to Elevate In-App Communication in Southeast Asia
HONG KONG, CHINA / ACCESS Newswire / June 20, 2025 / Tencent Cloud,the cloud business of global leading technology company Tencent, today announced a strategic partnership with Ryde Group Ltd (NYSE American: RYDE) ('Ryde' or the 'Company'), a technology company with a leading platform for mobility and quick commerce in Singapore, to elevate in-app communication for ride-hailing services in Southeast Asia. By integrating Tencent Real-Time Communication (TRTC) technology powered by Tencent Cloud, along with WeChat Mini Program, Ryde is enhancing driver and rider interactions with ultra-low latency, secure, and seamless communication directly within its platform. As Ryde expanded its user base and platform capabilities, the limitations of traditional telecom-based communication systems have become evident. Reliance on third-party number masking added unnecessary complexity, increased operational costs, and failed to meet the expectations of a mobile-first, digitally savvy audience. To maintain its competitive edge, Ryde sought a cutting-edge, cloud-native solution to ensure secure, real-time communication, protect user privacy, and optimize operational efficiency. With its proven global leadership in real-time communication infrastructure, powering platforms like Weixin/WeChat, QQ, and PUBG, Tencent Cloud's ultra-low latency solution, carrier-grade stability, and seamless integration capabilities aligned perfectly with Ryde's vision of building a future-ready mobility platform. Enhancing Mobility with Tencent Cloud's Real-Time Technology As one of the powerful solutions under Communications Platform as a Service (CPaaS), TRTC is renowned for its carrier-grade stability, ultra-low latency architecture, and seamless integration into mobile-first environments. By leveraging this solution, Ryde can replace traditional telecom methods with a scalable, secure, and cost-effective in-app solution, ensuring seamless voice interactions between riders and driver-partners. Beyond core infrastructure, Ryde also benefited from Tencent Cloud's comprehensive offerings, including scalable support for user demand, robust security compliant with international standards, improved performance with minimized latency, and access to AI and analytics for smarter pricing and customer engagement. Driving Long-Term Digital Mobility Transformation in Southeast Asia The partnership between Ryde and Tencent Cloud marks a strategic alliance between two growth-oriented platforms committed to advancing high-impact digital infrastructure across Southeast Asia. This collaboration is grounded in a shared vision to unlock value in rapidly evolving sectors such as urban mobility, platform-as-a-service, and AI-powered digital solutions. For Tencent Cloud, this partnership aligns with its regional expansion goals and strengthens its role in enabling super-app ecosystems. By offering scalable, secure infrastructure and advanced solutions like TRTC, Tencent Cloud is deepening its presence in the fast-growing mobility sector, with Ryde as a key partner. For Ryde, the collaboration accelerates its product development, enhances platform reliability, and drives operational efficiency-crucial factors as it expands into new areas including ride-hailing, deliveries, payments, and sustainable mobility. Tencent Cloud's robust ecosystem empowers Ryde to deliver exceptional user experiences while maintaining cost efficiency and technical agility. Kenneth Siow, Regional Director for Southeast Asia and General Manager for Singapore & Malaysia at Tencent Cloud International, said, 'We are thrilled to partner with Ryde in transforming the ride-hailing communication experience across Southeast Asia. By integrating our Real-Time Communication (TRTC) technology, we enable seamless, secure, and ultra-low latency interactions within the Ryde platform. This collaboration underscores Tencent Cloud's commitment to empowering innovative companies with cutting-edge cloud solutions that enhance user experiences and drive operational efficiency. Together, we are establishing a long-term strategic foundation to capture emerging revenue opportunities, optimize margins through advanced infrastructure, and future-proof our platforms in Southeast Asia's rapidly evolving digital economy.' Nitin Dolli, CTO at Ryde Group, said, 'Our partnership with Tencent Cloud is more than a technological upgrade-it is a transformative step that accelerates Ryde's evolution beyond ride-hailing into a comprehensive regional super-app. Leveraging Tencent Cloud's robust TRTC technology, we have further enhanced the communication experience for both riders and driver-partners, while upholding the highest standards of privacy, security, and scalability. We believe this collaboration strengthens our competitive edge and reaffirms our commitment to delivering smarter, more seamless solutions for our users.' In addition to TRTC implementation, Tencent Cloud and Rydeare jointly exploring new opportunities with WeChat Mini Program in areas such as AI-driven fleet optimization, intelligent dispatch systems, and green mobility analytics-initiatives designed to boost operational performance and support scalable, long-term growth. About Tencent Cloud: Tencent Cloud, one of the world's leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation. About Ryde Group Ltd: Ryde, a homegrown super mobility app founded in Singapore, is the world's FIRST on-demand carpooling app since 2014! As a publicly listed company on the NYSE American, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take 0% commission, ensuring that more of every hard-earned dollar goes to driver-partners on our platform. For more information, please visit to learn more. Media Contact Melody Huang Tencent Cloud [email protected] Andy Miu Current Global [email protected] +852 2533 9908 Media Team Ryde Group Ltd [email protected] Investor Relations Ryde Group Ltd [email protected] FORWARD-LOOKING STATEMENTS Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: Ryde Group press release
Business Insider
a day ago
- Business Insider
Nectra Launches Bitcoin-Backed Stablecoin Protocol, Redefining Bitcoin Loans
George Town, Cayman Islands, June 19th, 2025, Chainwire Today marks the introduction of Nectra, a permissionless lending protocol that allows Bitcoin holders to borrow against their BTC using nUSD, a decentralized, Bitcoin-backed stablecoin. Built on Citrea, Bitcoin's first ZK rollup, Nectra is pioneering a new era of non-custodial Bitcoin finance. In a landscape dominated by custodial lenders and opaque terms, Nectra brings a trust-minimized alternative—where there are no intermediaries, interest rates are user-set, and transparency is enforced on-chain. The result is a radically simplified and secure way to unlock liquidity without selling or rehypothecating Bitcoin. 'Bitcoin deserves financial applications that respect its ethos: decentralization, transparency, and self-sovereignty,' said Jo Carmack, co-founder of Nectra. 'With Nectra, Bitcoin becomes more than a store of value—it becomes an active financial asset.' Key Features of Nectra: Non-custodial loans: Users retain control of their Bitcoin throughout the lending process. Custom interest rates: Borrowers select their own APR. High LTVs: Borrow up to 83.3% of the value of traders' Bitcoin. Instant access to nUSD: A Bitcoin-backed stablecoin redeemable for BTC at any time. Real on-chain yield: Traders can earn yield by depositing nUSD into the protocol's Savings Account. Unlike centralized platforms, Nectra introduces no middlemen, no exorbitant fees, and no rehypothecation or pledging of funds. All logic is encoded in immutable smart contracts—ensuring permissionless access. Nectra is now live on Citrea testnet, with its mainnet launch and points program coming soon. Bitcoiners can already begin testing loans, redeeming nUSD, and earning yield—all while staying true to Bitcoin's principles. To Explore Nectra: About Nectra Nectra is a decentralized lending protocol that enables Bitcoin holders to borrow nUSD— a Bitcoin-backed stablecoin—without intermediaries or custodians. Built on Citrea, Bitcoin's first ZK rollup, Nectra offers permissionless, transparent, and immutable Bitcoin loans. By staying true to Bitcoin's principles, Nectra allows users to unlock Bitcoin liquidity in a Bitcoin-aligned way. Contact
UPI
a day ago
- UPI
Democratic Republic of the Congo, Rwanda reach peace agreement
Captured Democratic Republic of the Congo troops being marched into Rwanda from the border city of Goma by Rwanda Defence Force soldiers in January. File Photo by Moise Niyonzima/EPA-EFE June 19 (UPI) -- Rwanda will sign a U.S.-Qatar-mediated peace agreement with neighboring Democratic Republic of the Congo, bringing an end to a decades-long armed conflict within days. The two sides' technical delegations initialed the pact Tuesday in Washington, pledging to "disengage and disarm," deal with non-state armed groups, establish a joint security cooperation mechanism and allow refugees and displaced people to return, the State Department said in a statement. Secretary of State Marco Rubio, who has been heavily involved in bringing the deal to fruition, will witness the official signing by ministers from Rwanda and the DRC at a ceremony in Washington on June 27. "The agreement was developed over three days of constructive dialogue regarding political, security, and economic interests. The agreement includes provisions on respect for territorial integrity and a prohibition of hostilities," the State Department said. Its statement paid tribute Qatar's contribution in helping to close the gap between the two countries' individual initiatives aimed at bringing peace to the region. The deal comes two months after Rubio persuaded the parties to sign a peace framework after the violence escalated to unprecedented levels in January as Rwandan-backed M23 rebels overran large areas of northeastern DRC, displacing tens of thousands of people. The region already was reeling from one of the world's worst humanitarian crises when the rebels launched their offensive, overwhelming government forces and killing U.N. peacekeepers, firing on U.N. humanitarian facilities and sending people fleeing from displacement camps. The BBC said that peace in the region could unlock billions of dollars of investment from the West into the resource-rich country, which has vast reserves of many critical minerals, including rare earths. According to the U.S. Commerce Department, DRC has "substantial" untapped deposits of gold, cobalt and high-grade copper, as well as diamonds and lithium, a key element for powering the green power transition. However, that mineral wealth has been disastrous for the country, historically, and is blamed, at least in part, for the current conflict, with DRC officials accusing Kigali of purposefully destabilizing its neighbor to get its hands on the minerals. The DRC reportedly offered access to its resources to the United States in exchange for assistance in resolving the conflict after it effectively lost control of the east of the country at the beginning of the year. In February, the U.S. Treasury Department imposed sanctions on Rwandan Regional Integration Minister James Kabarebe for backing the M23 along with Lawrence Kanyuka, a senior member of the group, and two of his companies. Condemning M23 human rights abuses, including killings, sexual violence and attacks against civilians, Treasury officials said Kabarebe, a former Rwandan Defense Force general, was responsible for RDF coordination with the M23 and was in charge of revenue generation of both outfits, funded from the DRC's mineral resources. The Treasury Department's Office of Foreign Assets Control alleged Kabarebe managed the cross-border movement of minerals taken from mining sites in the DRC, which subsequently found their way onto the international market after being exported from Rwanda.
