They are now three in Singapore to covet the next five bank licenses which the Singapore Monetary Authority (MAS) will issue. Three internet companies, including the fintech financial Ant (Alibaba), Apple, and TikTok.

The video streaming platform, which has more than 630 million subscribers worldwide, is to be identified as the last giant in the date wishes to extend its money services.

Like the United States, the giant chinese have long coveted the banking market with Google and Apple. It’s not necessarily a question of making an online banking offer, but rather of providing different services in connection with the new digital tools: mobile payment, consumer loans.

To Alibaba (WeChat Pay and Alipay) and Tencent provide most of the fintech services available, but TikTok ‘s house-mother BytheDance could strike it hard.

BytheDance will still have to have the green light from Singapore’s monetary authority to be able to start deploying new banking services. Because the Chinese company, estimated at $75 billion, has agreed not to apply on their territories of origin to be able to operate and have its banking licence.

BytheDance is currently benefiting from an arrangement with the Lee family, which is at the head of the Oversea-Chinese Banking Corporation (the OCBC), one of the city’s largest banks, according to the Financial Times, which was the first to publish such detail.

TikTok ‘s mother house ties with this family agreed to bring his claim to Singapore rather than to its original intention, Hong Kong.

BytheDance was born TikTok of a buyout of the Music application.ly, who had allowed him to recover tens of millions of users in November 2017 (redemption in the amount of 850 million euros). Three years later, the chinese giant has kept the same strategy and continues to invest in startups that it will permit the offer of new services.

Last may 19, a new investment had already put a flea in the ear about the group’s ambitions on financial services. The mother house of TikTok had invested $ 6 million into the startup financial Lingxi, which is concerned with the development of technologies of artificial intelligence to financial services. It was a round table in A series for the young startup, and the first step towards fintech for TikTok.