Donghai established the global headquarters for digital financial services SeaMoney, renamed Monee

The newly established comprehensive project Rochester Commons, located in the vicinity of Wei Yi City, occupies 10 floors and can accommodate up to 1,500 people, with over 1,000 people initially set to move in. Donghai will also establish the Monee Excellence Center here, focusing on product management, artificial intelligence, and the development of capabilities and technologies for anti-money laundering.

Li Xiaodong said, "Monee is already one of the largest digital financial service providers in the region, and I believe the potential of this market is just beginning to unfold."

Chen Shilong stated that the government will continue to deepen cooperation in financial technology with like-minded partners. For example, the Monetary Authority of Singapore is developing a multilateral real-time payment network through Project Nexus, collaborating with banks and operators to connect payment systems in different locations, aiming to develop a public payment tool that links ASEAN with the world.

Li Xiaodong, Chairman and CEO of Donghai Group, said at the opening ceremony, "16 years ago today, we rented a shophouse near Maxwell Road to start. Many people do not know that we entered the financial services sector early on. At that time, our main business was developing and issuing video games, but we quickly realized that many players could not use online payments to purchase virtual game items."

Chen Shilong said, "As the world enters a new global economic order, Singapore must continue to nurture and support companies like Donghai to solidify our position as a hub for creativity, talent, and investment, bringing new opportunities for our economy and people."

Donghai Group held an opening ceremony for its newly established digital financial services headquarters on Thursday (May 8), with Dr. Chen Shilong, Second Minister of Trade and Industry, as the guest of honor. This day also marks the 16th anniversary of Donghai Group's establishment.

Donghai Group (Sea Limited) has established its global headquarters for digital financial services in Singapore, with SeaMoney being renamed to Monee.

As the largest publicly listed technology company in Southeast Asia by market capitalization, Chen Shilong pointed out in his speech that Donghai's development is a microcosm of the rise of the regional digital economy.

Extended Reading

Starting with the issuance of prepaid cards, Donghai gradually expanded into e-wallets, e-commerce payments, providing microloans, and even establishing a digital bank. Li Xiaodong noted that Donghai is one of the largest digital consumer loan providers in Southeast Asia, with over 26 million active credit users and a total loan amount exceeding $5 billion (approximately SGD 6.5 billion).

Chen Shilong: Donghai's development is a microcosm of the rise of the regional digital economy

In addition, Singapore is also working through the ASEAN Digital Economy Framework Agreement to achieve unified rules and standards to promote cross-border data flow.

The group has also opened three banks within three years, including MariBank in Singapore. The money market fund Maribank SavePlus, launched at the end of 2023, has attracted over $1 billion in investments to date