January 2, 2020 / 9:59 AM / 24 days ago

China's Ant Financial applies for Singapore digital banking licence - Bloomberg

Jan 2 (Reuters) - China’s Ant Financial, an affiliate of ecommerce giant Alibaba Group Holdings, has joined the race for a digital banking licence in Singapore, Bloomberg reported on Thursday.

The application is a part of the Monetary Authority of Singapore’s decision to issue five banking licences as it tries to liberalise the city-state’s banking sector. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Alex Richardson)

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