How is Ant shaking up financial services’ big corps?

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One of the world’s most valuable fintech companies is going to get a whole lot richer. Ant Group’s IPO, which might happen as early as next month, would catapult its valuation to US$225 billion. This could heat up the tension between Ant and Western payment incumbents Visa and Mastercard.

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Your quick bytes for today:

1️⃣ TikTok owner to spend billions in Singapore

Chinese tech firm ByteDance is planning to establish a data center and add hundreds of jobs over the next three years in the city-state. The company currently has 400 employees with over 200 open positions in Singapore. Earlier this year, ByteDance has also reportedly applied for a digital bank license in the country.

2️⃣ AirAsia sets up new media group

The budget carrier’s new entity will act as a marketing solutions partner that integrates data and content focusing on Asian travel and pop culture. Called the AirAsia Media Group, it aims to provide solutions to brands through its own adtech platform.

As the global pandemic continues to ravage the travel sector, AirAsia has been expanding its business beyond just providing flights. It’s on its way to become a super app of sorts with 17 business lines, ranging from fintech to e-commerce and food delivery.

3️⃣ Baidu launches public robotaxis in Beijing

The Chinese internet giant has rolled out a robotaxi service in the Chinese capital. This makes Beijing the third city in the country – after Changsha in Hunan province and Cangzhou in Hebei province – where a self-driving car with a safety driver can be hailed on its e-hailing platform.

4️⃣ Singapore fines Grab S$10k for data breach

Southeast Asian ride-hailing firm GrabCar has been fined S$10,000 for putting the data of more than 21,000 drivers and passengers at risk of unauthorized access. The breach was Grab’s fourth personal data violation since 2018, and it included personal details such as users’ profile pictures, names, and wallet balance.

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