Asia

Billionaire Ant Group Co. co-founder Jack Ma skipped a recent taping of an African TV program he created, spurring speculation online about his whereabouts and the outcome of an investigation into his internet empire.

Card payments can't always cut it in different countries, says PPRO's Steve Villegas.

When the Chinese banking authorities finish reshaping Jack Ma’s empire, the only thing he may have left is Alipay — which would still be the world’s most popular mobile and online payments app.

Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units.

Openpay, the latest firm to enter the U.S.’s booming buy now, pay later instant-credit market, has hired a team clearly braced for heavier competition and regulation ahead.

Two large deals happened this week in Australia to build scale against international financial services encroachment from card schemes and cross-border financial services — a concern that's cropping up in several nations.

Ride-sharing apps always seem to be racing to be something else — or at least something more — especially given the coronavirus pandemic's impact on travel. With a banking license in Singapore, Grab can add fuel to the strategy.

Tech pioneer Bill Gates praised India’s policies for financial innovation and inclusion, saying his philanthropic foundation is working with other countries to roll out open-source technologies modeled on the country’s implementation.

Ant Group Co. and a venture led by Grab Holdings Ltd. won licenses to run digital banks in Singapore, paving the way for the technology giants to expand their financial services in the Southeast Asian hub.

By allowing access to public chains, CBDCs could render much greater, and even revolutionary, functionality, says Cypherium's Sky Guo.