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Companies

Jack Ma’s Exit Would Smooth Ant’s IPO march

“China’s billionaire tech boss Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded, The Wall Street Journal reported on Thursday. If realized, the move will mark another important turn in Ant’s restructuring and power shuffling since China called off its $35 billion initial public offering nearly two […]
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Companies

GCash, Other Asian E-Wallets to Expand into South Korea with Ant’s Alipay+

“Ant Group said on Monday it would help four Asian e-wallets, including the Philippines’ GCash and Malaysia’s Touch’n Go expand into South Korea with its cross-border payment service Alipay+, as travel restrictions begin to lift across Asia. The move will allow users of e-wallets that use Alipay+, including GCash, Touch’n Go, Thailand’s TrueMoney, and AlipayHK […]

On The Wires

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Companies

China Set to Fine Ant Group Over $1 Billion, Signalling Revamp Nears End

“Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The People’s Bank of China (PBOC), which has been driving the revamp at Ant after the […]