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Alibaba-backed Ascend Money eyes Singapore for remittance business

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Published Wed, Nov 30, 2016 · 09:50 PM

    Singapore

    AN Alibaba-backed payments company spun off from Thai conglomerate CP Group may launch an international remittance business in Singapore as early as next year, its top executive said on Wednesday.

    This is part of Ascend Money's ambitious push into the South-east Asian market, with some US$100 million expected to be spent by the e-payments company in 2017 to bump up it regional presence.

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