Nov 23, 2021 04:29 AM

Bilibili Acquires Online Payment License in $18.5 Million Deal

What’s new: Chinese video platform Bilibili obtained an online payment license after acquiring a majority stake in an online payment company, moving it a step closer to launching its own e-payment service for more than 200 million users.

Bilibili acquired a 65.5% stake in Zhejiang Yongyi Payment Co. Ltd. for 118 million ($18.5 million) from the online payment firm’s state-owned shareholders, according to information on the website of the Ningbo Public Resources Trading Center.

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