Alibaba’s fintech unit Ant Group and Standard Chartered said on Monday they will broaden their partnership and work together in green finance and global fund management.
It’s the first tie-up between Ant and a major foreign bank since its planned mega-IPO was canceled by the authority in 2020.
StanChart will help Ant build “an industry-leading global liquidity and foreign exchange management structure”, according to a joint statement.
They will also enhance collaboration in environmental, social and governance, digital innovation and inclusive finance, it said.