Ant Group owns Alipay
The US State Dept has submitted an application for the Trump administration to put China’s Ant Group on the trade blacklist, according to sources cited by Reuters.
That would be a significant escalation in the trade war, which is morphing into more of a tech war.
By some measures, the Ant Group is the largest Fin Tech company in the world. It owns Alipay and these other subsidiaries:
- Alipay – a mobile wallet app supports make and accept payments
- Huabei (Ant Credit Pay) – a virtual credit card type of product that facilitates credit payments
- MYbank – a private online bank that lives entirely on the cloud
- Jiebei (Ant Cash Now) – a consumer loan service
- Ant Fortune – a comprehensive wealth management app
- Ant Insurance Services
- Zhima Credit – an independent credit filling and scoring service for individuals
- Ant Financial Cloud – a cloud service for financial institutions
- ZOLOZ – a global biometric-based identity verification platform