Ant Group, an affiliate of Alibaba Group, operates Alipay — the world's largest digital payment platform with over 1 billion users. The company provides digital payment, wealth management, insurance, and credit services. After its IPO was halted in 2020, Ant has undergone significant restructuring under Chinese regulatory requirements, including obtaining a financial holding company license.
Ant Group's regulatory journey has become the template for how China governs platform fintech, with implications for every major tech company operating financial services in the region.
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