China’s Ant Financial takes stake in Vietnamese payment firm

December 22, 2019

SHANGHAI - Ant Financial, a fintech affiliate of Chinese e-commerce giant Alibaba, has acquired a significant stake in the Vietnamese digital payment firm eMonkey as part of the Chinese fintech unicorn's strengthening efforts to capture more global opportunities, according to a report in Caixin.

It says Ant Financial will not have majority control over eMonkey but is still expected to have significant influence and to provide technical expertise to the e-wallet. (ATI).