Zall has been operating Z-Bank in China since obtaining a virtual banking licence in the country in 2017.
(Jan 21): Zall Smart Commerce Group, a Chinese business-to-business e-commerce company, said it’s part of a group applying for a digital wholesale banking licence in Singapore, joining the race to shake up the city-state’s financial industry.
Other consortium partners are Japanese trading company Marubeni Corp. and Singapore-based Global eTrade Services, a unit of CrimsonLogic, Zall said in an emailed statement. The group aims to contribute to Singapore’s development as a global financial hub for trading activities, it said.
