HONG KONG (Bloomberg): Billionaire Jack Ma’s Ant Financial has applied for a digital banking license in Singapore, as China’s largest online financial platform steps up efforts to expand outside the mainland.
Ant submitted an application to the Monetary Authority of Singapore for a wholesale license, which would allow it to serve corporate clients, the company said.
"We look forward to contributing to the development of the digital banking landscape in Singapore,” it added in an emailed statement.
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