Mitsubishi UFJ Financial Group to invest $195m in Ascend Money.

Mitsubishi UFJ Financial Group, a global financial services group and one of the largest banking institutions in Japan, agreed to invest $195m in Ascend Money, a provider of digital financial services in Thailand. Through this strategic investment in Ascend Money, MUFG aims to further capture the growth of digital finance in the Asia-Pacific and expand the value of its business franchise in the medium to long term. By investing in the company, which has widely penetrated consumers’ daily lives through a variety of online and offline channels, MUFG seeks to serve a broader customer base, and together with other strategic partners in the MUFG network to explore new business collaboration opportunities. By welcoming the company as a new member of MODE, MUFG also aims to deepen its accumulation of digital technology-related knowledge.