Search Results for: Alibaba Group

March 21, 2022 @ 11:30 pm By Omar Faridi  |  

Financial regulators in China, including the nation’s reserve bank, and the Zhejiang provincial government are reportedly supporting “controllable risks” in the country’s digital commerce hub in order to promote Fintech innovation. This, according to a government update reviewed by the SCMP. The People’s Bank of… Read More

November 23, 2020 @ 9:48 pm By Omar Faridi  |  

The management at Alibaba Group Holding (NYSE:BABA) has stated that they are planning to comply with China’s updated Fintech regulations after the nation’s changing regulatory environment led to Ant Group‘s initial public offering (IPO) getting suspended. Daniel Zhang, Chairman of Alibaba Group, noted during a… Read More

October 22, 2020 @ 9:40 am By Omar Faridi  |  

Ant Group, which was previously known as Ant Financial, the world’s most valuable Fintech firm and a subsidiary of the Alibaba Group Holding (NYSE:BABA), has reportedly received approval from China’s top securities regulator for the registration of its Shanghai offering. As reported by Reuters, the… Read More

October 19, 2020 @ 7:58 am By Omar Faridi  |  

Ant Group, which was previously known as Ant Financial, the world’s most valuable Fintech firm and subsidiary of the Alibaba Group Holding (NYSE:BABA), has reportedly received approval from Chinese regulatory authorities for the Hong Kong leg of its planned initial public offering (IPO). The Ant… Read More

September 7, 2020 @ 11:03 pm By Omar Faridi  |  

Payments giant Visa has teamed up with Pakistan’s Daraz, an online marketplace and logistics firm which operates in markets of South Asia and Southeast Asia (owned by Alibaba Group). Through the long-term, strategic partnership, the companies will introduce “Visa Mondays,” which will allow Daraz customers… Read More

April 9, 2018 @ 7:43 am By Samantha Hurst  |  

SenseTime, a Chinese artificial intelligence (AI) company, announced on Monday it raised $600 million during its Series C round of funding, which was led by the Alibaba Group with participation from  Temasek and Suning. This round of funding comes less than a year after the company raised $410 million through its… Read More

August 4, 2015 @ 11:24 am By JD Alois  |  

Alibaba continues to expand its strategic push into financial services with the significant hire of Michael Evans as President of Alibaba Group. According to the company, Evans will direct international growth strategy for the fast growing internet conglomerate.  Evans was already a member of the… Read More

August 11, 2021 @ 8:46 am By Omar Faridi  |  

BBVA and Ant Group (Alibaba affiliate) have entered an agreement to work on the integration of financial services in their platform, Trusple. Based on blockchain or distributed ledger technology (DLT), this network aims “to accelerate the digital transformation and facilitate the financing of international trade… Read More

March 16, 2021 @ 11:33 pm By Omar Faridi  |  

Ant Group, the Fintech division of digital commerce giant Alibaba Group Holding Limited (NYSE: BABA), has made a commitment to become carbon neutral by 2030. Ant Group’s management stated that to achieve the carbon neutral target within the coming decade will involve establishing a carbon… Read More

December 24, 2020 @ 12:23 pm By JD Alois  |  

Chinese regulators are said to be investigating whether Alibaba (NYSE:BABA) has been engaging in non-competitive practices. Simultaneously, Ant Group – a top Fintech, is receiving additional scrutiny. Ant Group is the parent company of Alipay, China’s largest mobile payment platform. Additionally, it has been widely… Read More

June 15, 2024 @ 10:08 am By Michael Wong  |  

Ant Group, the Fintech arm of Chinese tech major Alibaba, ramped up its research and development expenditures to a record 21.2 billion yuan ($3.05 billion) last year, according to its latest sustainability report. This move highlights the company’s increasing focus on technology innovations, including artificial… Read More

March 26, 2024 @ 6:34 pm By Omar Faridi  |  

Alibaba’s Ant Group has reportedly committed another SGD 200 million investment into ANEXT Bank, which is its wholly-owned subsidiary and SME digital bank. This, according to media reports from March 25, 2024. As reported by DealStreetAsia, the digital finance and technology firm had previously committed… Read More

July 8, 2023 @ 7:24 pm By Omar Faridi  |  

China’s regulatory authorities revealed on Friday (July 7, 2023) a 7.12 billion yuan (approximately $984 million) fine for Ant Group, a decision that effectively ends a lengthy regulatory revamp of the Fintech firm while marking an important step to concluding a massive crackdown on the… Read More

May 17, 2023 @ 4:52 pm By Omar Faridi  |  

CertiK, the New York-based blockchain security company, and Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, announced the signing of a partnership to provide blockchain security services to cloud-based Web3 projects. Web3 developers can now “accelerate their development process and secure their… Read More

March 8, 2023 @ 12:11 pm By Omar Faridi  |  

Mysten Labs, a Web3 infrastructure company and initial developer of the Sui Layer 1 blockchain, announced the signing of a Memorandum of Understanding with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group. Under the terms of the MOU, Alibaba Cloud will aim… Read More

January 9, 2023 @ 8:33 am By Omar Faridi  |  

Billionaire entrepreneur Jack Ma will reportedly end an acting-in-concert pact with three senior executives who had given Ma a 53.46% share of the voting power in Fintech firm Ant Group. Following the restructuring phase, the major shareholders of Ant Group will independently exercise their respective… Read More

December 19, 2022 @ 10:47 pm By Omar Faridi  |  

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group,  announced a roadmap for the launch of its first Blockchain Node Service. Scheduled for the first quarter of 2023, the Blockchain Node Service will “support the growth of the evolving Web3.0 ecosystem and better… Read More

May 22, 2022 @ 5:16 pm By Omar Faridi  |  

SpotOn, a software and payment company with comprehensive solutions for restaurants, retail businesses, and enterprise venues, recently announced $300 million in Series F funding, “raising its valuation to $3.6 billion.” The company will use the funding “to further develop technology products that enable businesses to… Read More

April 18, 2022 @ 8:10 am By JD Alois  |  

Ant Group, an offshoot of Alibaba and the owner of the largest payment platform in China – Alipay, has partnered with 2C2P – a global payments platform. Simultaneously it was announced that Ant Group will become the majority shareholder of 2C2P upon completion of the… Read More

November 28, 2021 @ 12:06 pm By Omar Faridi  |  

China’s reserve bank confirmed on Friday (November 26, 2021) that it had accepted the application to launch a personal credit-scoring joint venture that is reportedly being backed by Alibaba‘s (NYSE: BABA) Fintech division Ant Group and various other companies. Qiantang Credit Rating Co Ltd will… Read More