Sunday, July 29, 2018

Jack Ma's Giant Financial Startup Is Shaking the Chinese Banking System

Ant Financial, which grew out of Alibaba, controls the world’s largest money-market fund, handled more payments last year than Mastercard and is more valuable than Goldman Sachs. Its power and disruptive capacity is drawing a backlash from Chinese banks—and also the government.

from WSJ.com: US Business https://ift.tt/2AwmnJ9
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