Tagged: alibaba

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

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

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

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

January 23, 2022 @ 1:07 pm By Omar Faridi  |  

The Metaverse, a relatively new concept and a term used to describe a shared, immersive digital ecosystem supported by the use of VR and augmented reality (AR) technologies, has quickly become one of the fastest-growing trends in the digital economy. It’s notably a nascent industry… 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

July 20, 2021 @ 10:47 am By Xu Gao  |  

Alibaba Establishes Digital Agricultural Subsidiary According to information from Tianyancha, Alibaba Digital Agriculture (Shandong) Co., Ltd. was established on July 12th, with a registered capital of 10 million yuan. This company is a fully owned subsidiary of Alibaba (Shanghai) Co., Ltd. Its business scope includes… Read More

June 7, 2021 @ 7:06 pm By Priyanka Pani  |  

Alibaba-backed One97 Communications, which owns mobile payments firm Paytm, has received a green nod from its board to go public. In a letter to all its stakeholders and employees having stock options, the company said it had received in-principle approval from its board to issue… Read More

April 18, 2021 @ 10:17 pm By Omar Faridi  |  

China’s Ant Group is looking into potential ways for billionaire Jack Ma to make an exit as Beijing continues to increase its pressure and scrutiny of Fintech businesses in the country, according to a report from Reuters which cited sources familiar with the matter. According… Read More

March 12, 2021 @ 10:01 am By JD Alois  |  

Ant Group CEO  Simon Hu has resigned from the Fintech according to multiple reports. Ant Group has seen its trajectory diminish in recent months following the decision of securities regulators to halt a pending initial public offering. Some reports linked the halted IPO to comments… Read More

January 29, 2021 @ 3:49 pm By Omar Faridi  |  

After facing increasing pressure from Chinese authorities, billionaire Jack Ma’s Fintech firm Ant Group is now focused on restructuring its business operations in order to serve as a financial holding company. The Ant Group has also been focused on positioning itself as an Internet-tech firm… Read More

January 6, 2021 @ 12:32 pm By Omar Faridi  |  

US President Donald Trump has signed an order that aims to place a ban on US transactions with eight major Chinese apps – which reportedly includes Ant Group’s Alipay and Tencent Holdings’ online wallets. Notably, this order has arrived just days before the Trump administration… Read More

January 3, 2021 @ 9:49 pm By Omar Faridi  |  

China’s banking and insurance regulator stated on December 31, 2020 (Thursday) that all Internet-based platforms in the country should investigate their Fintech-related businesses to ensure that they’re following regulatory guidelines and must also address any shortcomings. China‘s financial regulators have held discussions with Alibaba’s (NYSE:BABA)… Read More

January 3, 2021 @ 9:00 pm By Timothy Li  |  

Fintech enthusiasts welcome back to my 5th annual “Top Ten” Fintech prediction series. This year I’ve met a lot of powerful movers and shakers in the Fintech space. My take away from these meetings and interactions is how little do I know about this ever-expanding… Read More

December 28, 2020 @ 8:20 am By Omar Faridi  |  

Chinese regulatory authorities have ordered billionaire Jack Ma’s Fintech firm Ant Group Co. to return to offering payments services, instead of attempting to expand its operations into consumer loans or wealth management. China’s reserve bank officials recently held discussions with Ant Group’s management and instructed… 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

December 1, 2020 @ 10:40 pm By Omar Faridi  |  

China is reportedly planning to introduce “special” and “innovative” regulatory guidelines for  Fintech giants like billionaire Jack Ma’s Ant Group Co., which is a subsidiary of the Alibaba Group Holding (NYSE:BABA). Regulators in China aim to create new policies so they can eliminate monopolistic practices… Read More

November 26, 2020 @ 4:27 pm By Omar Faridi  |  

Alibaba founder Jack Ma’s plans to establish Fintech companies like Ant Group and launch IPOs in China were recently put on hold when the country’s regulators decided to make updates to regulatory requirements. As reported recently, Daniel Zhang, Chairman of Alibaba Group Holding (NYSE:BABA), noted… Read More