13 C
New York
Monday, March 4, 2024

China’s central bank agrees Ant Group’s Alipay has no controller By Reuters

China’s central bank agrees Ant Group’s Alipay has no controller By Reuters


© Reuters. The Alipay logo is displayed next to a QR payment code on the app, in this illustration taken June 28, 2023. REUTERS/Florence Lo/Illustration/File Photo

BEIJING (Reuters) – China’s central bank has agreed that Alipay, the popular payments app, will have no controllers following a complete overhaul of the business of Jack Ma’s Ant Group, the proprietary fintech giant of the application, according to the People’s Bank of China website.

In January, Ant Group said its founder Jack Ma would no longer control the fintech giant and would give up most of his voting rights.

On Saturday, an Ant Group spokesperson said the corporate governance optimization announced on January 7 had been completed and would not affect the company’s daily business operations.



Source link

Latest stories