China's Ant Financial Applies for Singapore Digital Banking License

Date: 
02 Jan 2020
Source: 
Reuters

China’s Ant Financial, an affiliate of ecommerce giant Alibaba Group Holdings, has joined the race for a digital banking license in Singapore, the company said in a statement on Thursday.

The Monetary Authority of Singapore (MAS) has said it will issue five such licenses, as it embarks on the biggest liberalization of its banking sector in two decades.

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Type: 
General
Country: 
Singapore