According to Foresight News, Caixin has updated its report on the extradition of Southeast Asian gambling figure She Lunkai, revealing details about his blockchain project, "Asia Pacific New City." The project's sole partner is Singapore-based blockchain company BCB Innovation Ltd. The Fincy payment software, based on the BCB blockchain, is promoted within Asia Pacific New City, aiming to create a Southeast Asian version of WeChat. Fincy and BCB share the same parent company and have similar shareholder members, offering fiat and digital currency exchange transactions and online gaming.
Industry experts have pointed out that by providing currency exchange and online gaming, the project introduces numerous unrelated participants, breaking down large sums of money into smaller amounts. These funds eventually converge on a gambling platform disguised as a gaming site, significantly weakening the oversight of financial flows.