PDD Holdings

Two shopping apps sit under PDD Holdings: Pinduoduo, the discount marketplace that shook up Chinese e-commerce, and Temu, the bargain site that has spread rapidly across the United States, Europe and beyond. Pinduoduo launched in 2015 around group buying and cheap goods sourced straight from farms and factories, growing fast enough to rival Alibaba and JD at home. Temu, opened in 2022, ships ultra-low-priced products directly from Chinese suppliers to overseas shoppers, funded by aggressive marketing. The company is legally domiciled in the Cayman Islands and reports its headquarters in Ireland. Its model keeps costs low by cutting out middlemen and holding little inventory, but the heavy spending to win Temu customers weighs on profit, and both platforms face scrutiny over product quality, labor practices and the trade rules that govern cheap cross-border parcels.

On MyRWA, PDD trades tokenized across 9 on-chain venues - see the listings below.