ByteDance, the corporate behind TikTok, has lately utilized for a brand new trademark for “TikTok Fee.” The worldwide classification covers 36 classes of “Monetary Property Administration,” which is at present ready for approval.

Notably, this information arrives after the corporate not directly received a cost license again in September 2020, when it purchased UIPay to spice up its personal e-payment capabilities in China. On the time, the corporate acknowledged that the acquisition will assist in bettering its person expertise by way of different cost choices, while additionally serving customers of ByteDance’s different services and products as properly.

Moreover, again in June 2020, the corporate behind the favored brief video sharing software additionally managed to acquire three monetary licenses for third get together funds and insurance coverage by way of acquisitions and different means. These had been probably supposed for the aim of growing and launching its personal cost system, which might probably be seen first in its house nation, China.

Because the starting of the 12 months, ByteDance has additionally been hiring globally to develop its workforce, which might be in command of constructing the community and a platform that may present cross border funds options. The corporate has even utilized for digital banking licenses in nations like Singapore, as per a Reuters report.

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