China's Ant Financial applies for Singapore digital banking license

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China's Ant Financial applies for Singapore digital banking license
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China's Ant Financial, an affiliate of ecommerce giant Alibaba Group Holdin...

FILE PHOTO: A logo of Ant Financial Services Group is seen next to a logo of Alipay at the Digital China Exhibition in Fuzhou, Fujian province, China May 5, 2019. REUTERS/Stringer

The Monetary Authority of Singapore has said it will issue five such licenses, as it embarks on the biggest liberalisation of its banking sector in two decades.

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