HONG KONG — In a world that embraces disruptive technology, China’s most prominent financial technology company, Ant Financial Services Group, would probably have no problems morphing into a bank, even without licenses. Beginning as an online payment processor called Alipay supporting Alibaba Group Holding’s flagship e-commerce platform Taobao, Ant Financial has expanded into wealth management and microfinancing. Alipay now controls 70% of China’s mobile payment market, while Yu’e Bao, which serves as a repository for cash leftover from online spending, emerged as the world’s largest money market fund this year with $165.6 billion of assets under management.
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Kapitaal op Maat: ‘Grootste deel crowdfundingplatformen zal dit jaar stoppen’. ow.ly/51iH50N7vJ3
