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China's Ant Group launches digital bank ANEXT in Singapore

Ant Singapore Jack Ma fintech Mas Beijing

ANEXT Bank of China's Ant Group receives approval from the Monetary Authority of Singapore to commence business in the city-state. (Reuters photo)

BEIJING: China's Ant Group, a financial technology (fintech) giant controlled by billionaire Jack Ma, on Monday said it has launched a digital wholesale bank incorporated in Singapore, dubbed ANEXT Bank.

ANEXT received approval from the Monetary Authority of Singapore (MAS) to commence business on June 2, Ant and wholly owned ANEXT said in a joint statement.

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