China’s fintech sensation
It has a history-making $34 billion IPO in Hong Kong and Shanghai, Ant Group is now a globally talked fintech sensation. It is the parent company of Alipay, China’s pioneering digital payments firm.
Jack Ma, the innovator
China’s richest man (Jack Ma) who founded the Alibaba e-commerce empire from his bedroom, Ant is a financial technology titan that is inoculated into the everyday life of hundreds of millions of Chinese people.
Jack Ma started in digital sales with the Alibaba e-commerce giant. But Jack’ss ambitions then turned to the potential for simplifying personal finance in China.
From payments for food deliveries, instant loans to micro-investment and insurance, Ant has been stuffed into now an integral part of everyday Chinese life.
Ant’s Amazing reach
It is the world-largest digital payments platform, claiming to have 711 million monthly users on the Alipay app using a large number of stores in China.
A total of $17.6 trillion in payments as of June this year which is 25 more times more than US giant Paypal.
Now let’s talk about the ANT Chain Crypto.
Jack Funded is leading the line on blockchain technology and also claimed that it has the capacity to match one billion transactions a day on the so-called ANTchain.
Its financial products have changed personal finance across the whole of china where around 10 percent of the population remains unbanked.
This is a completely Chinese based cryptocurrency launched recently.