China’s Ant Group to form a financial holding company after regulatory clampdown

//China’s Ant Group to form a financial holding company after regulatory clampdown

China’s Ant Group to form a financial holding company after regulatory clampdown

Ant Group, controlled by Chinese billionaire Jack Ma, said on Monday it will apply in its entirety to become a regulated financial holding company after China’s top regulators publicly mapped out a blueprint for overhauling the planet’s largest financial technology company. Ant, which operates the ubiquitous mobile payments platform Alipay, will place all of its financial-related activities in a holding company overseen by Beijing-based watchdogs, including its credit origination platform, its…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2021-04-12T11:39:28+00:00 April 12th, 2021|Technology|Comments Off on China’s Ant Group to form a financial holding company after regulatory clampdown