ant group alipay wechat pay chinesealperreuters

According to media reports, the fund is meant to provide late-stage funding to startups. In November 2019, the company announced to be raising $1 billion for a new fund, with the aim to expand the firm's investment activities in India and Southeast Asia. On 9 June 2018, the company raised around US$14 billion, which the Times of India called 'the biggest-ever single fund-raising globally by a private company'. In June 2018, the company launched a blockchain-powered cash remittance service that will allow real-time cash transfers between Hong Kong and the Philippines. In September 2017, Ant Group formed a joint venture with Sir Li Ka-shing's CK Hutchison Holdings to launch a digital wallet service in Hong Kong. The same month, the Cyberspace Administration of China stated that Ant Group had failed to meet the country's personal data protection standards.

In January 2018, the companies decided to terminate the deal after approval was not granted from the Committee on Foreign Investment in the United States due to U.S. On 26 January 2017, Ant Group Services Group announced a deal to acquire MoneyGram International for $880 million. īy late January 2017, Ant Group had a valuation of $60 billion. In September 2016, Ant Group bought EyeVerify Inc. As of 26 April 2016, Ant Group had around 450 million annual active users, with Credit Suisse estimating that 58% of China's online payment transactions went through Alipay. In 2015, the company was valued at about $45 billion. In 2015, Ant Group raised $4.5 billion in a funding round with investors including China Investment Corp (CIC), CCB Trust, China Life, China Post Group, China Development Bank Capital and Primavera Capital Group. History Founding and expansion (2014–2020)Īlipay was rebranded as Ant Group Services on 23 October 2014, and the company changed its name to Ant Group Co., Ltd on 13 July 2020.

In July 2022, Chinese authorities give a tentative green light to Ant Group to revive its initial public offering plans in both Shanghai and Hong Kong. On 12 April 2021, The Wall Street Journal reported that under the pressure from the Chinese government, Ant Group would be transformed into a financial holding company overseen by China's state-controlled central bank. It was reported that the Chinese Communist Party leader Xi Jinping personally scuttled the Ant IPO. On the eve of the IPO, China stopped the process from moving forward. In October 2020, Ant Group was set to raise US$34.5 billion in the world's largest IPO at the time, valuing the company at US$313 billion. In March 2019, The Wall Street Journal reported that Ant's flagship Tianhong Yu'e Bao money-market fund was the largest in the world, with over 588 million users, or more than a third of China's population, contributing cash to it.

It is the second largest financial services corporation in the world, behind Visa. The group owns the world's largest mobile (digital) payment platform Alipay, which serves over 1.3 billion users and 80 million merchants, with total payment volume (TPV) reaching ¥118 trillion RMB in June 2020. Ant Group ( simplified Chinese: 蚂蚁集团 traditional Chinese: 螞蟻集團 pinyin: Mǎyǐ jítuán), formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group.

Ant group alipay wechat pay chinesealperreuters