- Jack Ma founded Alibaba Group Holding Ltd (NYSE:BABA) fintech affiliate, Ant Group, is set to become the majority investor in Singapore-based payments platform 2C2P as part of a partnership, Reuters reports.
- The deal will integrate Ant's Alipay+ payment service with 2C2P's platform used by merchants in Asia, Europe, the Middle East, and the Americas.
- The partnership will help 2C2P connect to a much larger merchant base positioning it to advance its international expansion strategy.
- Also Read: Here's Why Jack Ma Led Alibaba Affiliate's IPO Got Postponed Indefinitely, How Alibaba's Ant Group Proposes To Revive Its IPO?
- Ant had deepened its presence in Southeast Asia by investing in and partnering with fintech firms.
- Ant recently appointed a GM for Southeast Asia to ramp up growth outside China.
- Price Action: BABA shares are trading lower by 1.76% at $93.04 premarket on the last check Tuesday.
