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Market News Ant Group Introduces ANEXT Digital Bank in Singapore

Ant Group Introduces ANEXT Digital Bank in Singapore

Ant Group, the Chinese financial technology firm controlled by billionaire Jack Ma, announced on Monday the formation of ANEXT Bank, a digital wholesale bank incorporated in Singapore.

Aria Thomas
2022-06-06
517

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Ant Group, the Chinese financial technology company controlled by billionaire Jack Ma, announced on Monday the establishment of ANEXT Bank, a digital wholesale bank incorporated in Singapore.


Ant, the financial subsidiary of Chinese e-commerce giant Alibaba (NYSE:BABA) Group, has gained authorisation from Singapore's Monetary Authority for ANEXT to begin operations on June 2, according to a statement from the firm.


Ant is the sole owner of ANEXT, it was added.

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