New entrant: Employees are reflected on a glass panel while walking past a logo at the Ant Group headquarters in Hangzhou, China. The group’s bank will provide digital financial services to micro, small and medium-sized enterprises. — Bloomberg
SINGAPORE: Billionaire Jack Ma’s Ant Group Co has launched its digital bank in Singapore, as China’s largest online financial platform branches out of its home market amid regulatory headwinds.
ANEXT Bank will provide digital financial services to micro, small and medium-sized enterprises that have cross-border operations, it said in a statement yesterday. Ant will allow these businesses to open an account from the third quarter of this year.
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