Blockchain-friendly e-commerce firm Ant Group’s profit jumped 560% year-over-year
August 20, 2020, 2:51PM EDT
1 min read
Ant Group, the parent of China’s largest mobile payment company Alipay, generated $1.3 billion in profit in the March quarter of this year — an increase of 560% compared with the same period last year,according to Bloomberg.
The news follows Ant’s announcement last month that it will list public shares this year on the Hong Kong stock exchange and the Shanghai stock exchange’s STAR market. The company, an affiliate of Alibaba, is seeking a valuation of $200 billion, reports Bloomberg.
Ant Group’s Alipay is a ubiquitous mobile payment platform in China, where the use of cash has fallen dramatically in the past several years. Alipay is expected to play a role in China’s forthcoming digital currency system.
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.
Fintech unicorn Nubank has submitted filings to the U.S. Securities and Exchange Commission (SEC) and Brazil's Comissão de Valores Mobiliários (CVM relating to a proposed initial public offering (IPO).
Adobe is introducing a Photoshop feature that allows users to prepare images as non-fungible tokens (NFTs), which will include content credentials that marketplaces like OpenSea can display on their websites for each asset.