The disclosure comes amid speculation Ant Group is poised to go public
In Brief
- New filings by Alibaba, which holds a 33% stake in Ant Group, show use of its FinTech's Alipay app is booming.
- Most users came from China, while the rest were brought by its nine e-wallet partners across Asia.
- The FinTech giant could go public as soon as this year at an estimated valuation of $200 billion.
What does this mean?
An IPO could further Ant's goal to position itself as a “technology” company that offers payments gateways and sells digital infrastructure to other financial institutions — rather than being a direct competitor to them.
