FILE Image: A symbol of Ant Money Companies Group is witnessed future to a logo of Alipay at the Electronic China Exhibition in Fuzhou, Fujian province, China May possibly 5, 2019. REUTERS/Stringer

January 2, 2020

(Reuters) – China’s Ant Economical, an affiliate of ecommerce giant Alibaba Team Holdings, has joined the race for a digital banking license in Singapore, Bloomberg claimed on Thursday.

The software is a part of the Financial Authority of Singapore’s decision to difficulty five banking licenses as it tries to liberalize the metropolis-state’s banking sector.

(Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Alex Richardson)


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