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A sub-organization of Jack Ma’s Alibaba Group, Ant Financial is a financial services app that handles Alipay, an online payment platform; Yu’e Bao, the world’s largest money market fund operator; and Zhima Credit, a social credit system. In 2018, the company was valued at around USD 150 billion, making it the ninth largest internet company in the world! Ant Financial already dominates China, but it still has its eyes set towards conquering the rest of the global mobile finance market. Its first attempt to enter the West (through remittance company MoneyGram) was thwarted by the US government; but at the start of 2019, Ant Financial agreed to buy British payments group WorldFirst, essentially putting them in the European market.
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