Tencent payment platforms while Singapore’s GIC Plans to Invest More Than $1 Billion in the Ant Group IPO. Alibaba Group Holding Ltd. The Interest around the world is so high its affiliate increased its IPO target based on a valuation of about $250 billion, up from previous estimates of $225 billion.
Not Surprisingly the U.S. said it will explore restrictions on Ant Group, Based on “security concerns” aka fear of Tech Competition.
Ant Group, officially established in October 2014, is an innovative technology provider that aims to bring inclusive financial services to the world.
Ant is China’s biggest mobile payments company; it provides loans, payments, insurance & asset management services via its mobile apps. Ant Group is based in the eastern Chinese city of Hangzhou; it is 33% owned by Alibaba Group Holding Ltd and controlled by founder Jack Ma.
Fearing America could be left behind the digital payment revolution, Anti China Senator Marco Rubio has been the most outspoken critic of China and has also called on the slowdown of the Ant Group IPO.