Ant Group: All you need to know about this Chinese fintech sensation
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China's fintech sensation
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Jack Ma, the innovator
Backed by , China's richest man who founded the Alibaba e-commerce empire from his bedroom two decades ago, Ant is a financial technology titan that is stitched into the everyday life of hundreds of millions of Chinese people.
Ma started in digital sales with the Alibaba e-commerce giant but his ambitions then turned to the potential for simplifying personal finance in China.
Ma started in digital sales with the Alibaba e-commerce giant but his 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 mushroomed into now integral part of everyday Chinese life.
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Ant's astonishing reach
It is the world-largest digital payments platform, claiming 711 million monthly users on the Alipay app using more than 80 million stores.
That equated to $17.6 trillion in payments as of June this year, 25 times more than US giant Paypal.
That equated to $17.6 trillion in payments as of June this year, 25 times more than US giant Paypal.
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ANTchain
The company is leading the line on blockchain technology and says it has a capacity to match one billion transactions a day on the so-called ANTchain.
Its financial products have revolutionised personal finance across a vast country where around 10 percent of the population remains unbanked.
Its financial products have revolutionised personal finance across a vast country where around 10 percent of the population remains unbanked.