Ajaib allows Indonesians to buy and sell stocks, ETFs, mutual funds, and other retail financial products, in a country that has one of the world’s lowest investment penetration rates.
Vietnam’s P2P market is estimated to be worth USD 7.8 billion in 2020, almost doubling from USD 4.4 billion in 2017, while currently there are over 40 P2P lenders operating in Vietnam.
The move, which the company said will serve to improve consumer safety, is another step for ByteDance towards making Douyin a fully-fledged e-commerce platform.
Ant Group could raise as much as USD 30 billion through the IPO, surpassing Saudi Aramco’s USD 29.4 billion listing to become the world’s largest-ever fundraising.