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Standard Chartered to give $500 mln to Atome in buy now, pay later push

People walk outside the main branch of Standard Chartered in Hong Kong, China August 1, 2017. REUTERS/Bobby Yip

Oct 13 (Reuters) – Standard Chartered Plc (STAN.L) said on Wednesday it would provide $500 million in financing to help Singapore-based fintech Atome expand its buy now, pay later services in parts of Southeast Asia.

The bank said it had also picked up a strategic stake in Atome, the consumer unit of Singapore-based Advance Intelligence Group, adding that it was one of its largest strategic investments in a fintech to date.

Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Ramakrishnan M.

Our Standards: The Thomson Reuters Trust Principles.

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