Raising money in U.S. dollars will help Ant Financial spend money abroad as the Chinese government continues to keep an eye on capital outflows. In December, the government clamped down on the amount of money companies could move out of China, and while those restrictions have eased slightly, moving yuan can still be difficult.
Having dollars ready to spend will also help Ant continue its aggressive expansion path. Ant Financial is behind one of China’s most popular payments apps called Alipay which has around 450 million users. The firm has been expanding outside of its home market into Europe and other parts of Asia. In Europe, Ant has struck deals with major …
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