Leveraging the sandbox

Ant’s asset-management division said Wednesday that 588 million users of Alipay, Ant’s popular mobile-payments network, had plunked cash into the flagship Tianhong Yu’e Bao fund at the end of last year. Assets under management stood at 1.13 trillion yuan ($168.26 billion) at year-end 2018, making it the world’s biggest money-market fund, according to the Journal.

The fund, whose name means “leftover treasure,” gained notoriety as the world’s largest money-market fund in 2017—four years after its founding. Alipay users can invest their spare cash there for short increments before using the money for online purchases.

A deposit on demand service stays in contact with the user's mobile payment bot, automatic portfolio adjustment. Goldman Sachs is up to the same trick with Apple. JPM wants a piece of this. Facebook also. The new internet can be priced, welcome to the future.