Zall Smart Commerce Joins Singapore Digital Bank License Race
- Marubeni and Global eTrade Services are consortium partners
- Zall-led group wants to help Singapore’s trading activities
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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 license 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 Pte, 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.