PingPong, China's Cross-Border Payment Startup, Plans to Invest €100M in Luxembourg to Set up the Digital Payments Bank

June 10, 2019 11:29 pm

Beijing (PingWest)—June 10, Hangzhou-headquartered PingPong, a third-party cross-border payment company, announces that it plans to invest more than 100 million euros ($113 million) in Luxembourg in the future, focusing on the preparatory work of digital payments bank.

Founded in 2015, PingPong Financial Group specializes in payment services for Chinese e-commerce sellers; meanwhile, it is the first Chinese fintech company to establish a European office in Luxembourg.

Source: 36kr