China’s Ant Group Mulling Creation Of New Consumer Loan Unit
PYMNTS
JANUARY 7, 2021
Ant was co-founded by billionaire Jack Ma, who also co-founded eCommerce giant Alibaba. While it is still unclear to what degree the Chinese government will try to control Ant’s booming loan business, the company will likely have to meet higher capital requirements, even with a restructuring of its consumer loan business.
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