Chinese ByteDance, the parent company of the popular video sharing app TikTok, wants to offer banking services in Singapore. According to sources against the British business newspaper Financial Times, ByteDance is discussing this with founders of the Singaporean OCBC Bank.
ByteDance is said to have applied to provide digital banking services in Singapore. The company is said to be collaborating with one of the families that OCBC founded, the Lee family. Neither party wished to comment to the Financial Times.