© Reuters. FILE PHOTO: A man walks past an Ant Group logo at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 8, 2021. REUTERS/Yilei Sun/File Photo

BEIJING (Reuters) – Ant Group, the Chinese financial technology giant controlled by billionaire Jack Ma, said on Monday that it has launched a Singapore-incorporated digital wholesale bank, ANEXT Bank.

Ant, the financial affiliate of Chinese e-commerce giant Alibaba (NYSE:) Group, received the approval from the Monetary Authority of Singapore for ANEXT to commence business on June 2, the company said in a statement.

ANEXT is wholly-owned by Ant, it added.

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