NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Alibaba’s Ant Financial Acquires MoneyGram

Gautham
Gautham
8 years ago
2 mins read
Anthony Di Iorio Jaxx

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Alibaba Group Holding Limited, the Chinese e-commerce and financial services conglomerate has made a significant move into the remittance industry. The company’s subsidiary Ant Financial Services Group has acquired MoneyGram International Inc. for $880 million.

The acquisition of MoneyGram not only offers Ant Financial a stronger foothold in the remittance sector but also gives it a unique opportunity to expand its services across the globe. MoneyGram and its counterpart the Western Union have been the leading providers of cross-border money transfer services in the world. The Dallas-based company currently has a network of over 350,000 outlets in retail shops, banks and post offices in almost 200 countries.

According to media reports, the acquisition of MoneyGram by Ant Financial still needs to be approved by the Committee on Foreign Investment in the United States (CIFIUS). The CIFUS approval is necessary for the acquisition of any domestic asset by a foreign company. In this case, Ant Financial is a Chinese company, and the growing tensions between the USA and China are expected to influence the committee’s response.

Apart from the global remittance segment, Ant Financial is also working on expanding its Alipay mobile wallet service to over 2 billion customers. The platform with 450 million users is exploring ways to broaden its infrastructure to support a four-fold increase in user base.

The CEO of Ant Financial, Eric Jing was quoted on a financial news portal saying,

“We have an ambition to be a global company… So, my vision (is) that we want to serve 2 billion people in the next ten years by using technology, by working together with partners… to serve those underserved.”

If things go according to plan, Alipay will soon integrate blockchain and artificial intelligence components into its system. The use of distributed ledger technology will enable the company to make its services much faster and cost efficient while improving the platform’s overall security.

Ref: Reuters | CNBC | Image: Shutterstock
Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Solaxy Presale Burns Red Hot as Whales Snatch $495K in Two Days: Best Presale Ends Tomorrow

With Solaxy ($SOLX) nearing the end of its presale stage, both anticipation for its listing and urgency among investors to...

Aaron Walker 6 hours ago
Bitcoin

Bitcoin Golden Cross Incoming, But Tensions Threaten Breakout

Bitcoin is still trying to regain short-term bullish momentum, as shown by its price action in the past 24 hours....

Scott Matherson 7 hours ago
Bitcoin

Bitcoin 656% Cyclical Gain Highlights Deep Market Demand – Glassnode

The Bitcoin market continues to react negatively to rising geopolitical tensions between Israel and Iran which has induced a wave...

Semilore Faleti 8 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Shiba Inu

Shiba Inu Burn Explodes 3,194%: Can It Change The SHIB Price Trajectory?

Scott Matherson 1 hour ago
Bitcoin

Amid Bitcoin Hype, Seasoned Trader Predicts Sudden Drop To This Level

Christian Encila 2 hours ago
Ethereum

Dormant Ethereum Wallet Awakens After 10 Years With Millions Worth Of ETH

Scott Matherson 4 hours ago

Premium Sponsors

Top Brands

Press Releases

  • アルトコイン急騰前に注目すべきアナリスト推奨の3銘柄

    ...

    7 hours ago
  • ミームコイン注目のプリセール|取引ボットで100万ドル達成、熱狂的トレーダーが殺到

    ...

    7 hours ago
  • Solaxyに注目集まる仮想通貨プレセール、クジラが2日で約50万ドルを投資

    ...

    9 hours ago
  • 仮想通貨おすすめ|今注目の5銘柄で大きな利益を狙う

    ...

    9 hours ago
  • 新しい仮想通貨が約5,000万ドル調達目前|ホエール投資家が9万ドルを購入

    ...

    9 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.