Credit China FinTech Holdings Limited, an integrated fintech service provider in China, announced on Friday it would establish its Southeast Asia headquarters in Singapore by the end of the first quarter of 2017 to speed up the expansion of its business overseas.
According to Credit China Fintech, the company has accumulated extensive operative experiences and expertise from the fintech industry in China over the past three years. Its board has decided to accelerate its pace of fintech growth outside China by moving to Singapore. The company stated:
“The number of internet users in China has been increasing rapidly. Credit China will continue to expand its Fintech business in order to capture the business opportunities from the ever-changing environment of the Fintech industry in Asia by establishing strategic partners, leveraging existing resources and assets for service diversification.”
Phang Yew Kiat, vice-chairman and CEO of Credit China FinTech, added:
“We have been approached by many FinTech companies and opportunities in Southeast Asia over the past twelve months. After careful deliberation at board meetings, we felt that setting up a regional headquarter in Singapore will effectively help us accelerate and conclude the working arrangement with these business opportunities.”