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Ant Financial is eyeing Southeast Asian expansion with its latest digital wallet acquisition

Estimated Southeast Asia Consumer Payments Gross Transaction Volume

The China-based payments company has acquired a “sizable” stake in eMonkey, a Vietnamese e-wallet, Reuters reports. Ant Financial will control 50% or less of eMonkey, but is expected to have “significant influence” on the e-wallet. The deal will enable Ant Financial to enter the Vietnamese payment market, since eMonkey already has operating licenses from the State Bank of Vietnam.

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Source:: BusinessInsider.Com