Sina reportedly released an online financial service Micro-bank after receiving third-party payments license earlier this month (source in Chinese).

This move marked that Sina is posed to tap into the financial market to capitalize on the online financial management mania stirred by AliPay’s Yuebao, an instant online financial management hit for its low investment threshold of one yuan and free fund redemption.

The financial management products listed on Micro-bank will feature easy and convenient operation as well as low liquidity risks.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.