Ant Group and AntChain cryptocurrency: All you need to know about this Chinese fintech

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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.

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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.

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Integral part

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.

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​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.

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ANTchain

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.