Aug

Deutsche Bank Buys Stake in Modo to Expand Digital Payments

Deutsche Bank AG is pointing to a business it wants to grow — outside the traditional confines of banking.

The German lender, which has been shrinking staff and operations internationally, bought a stake in U.S. technology startup ModoPayments so it can move funds outside of banking channels. Deutsche Bank said the deal will help it connect to digital platforms run by Jack Ma’s Alipay, Tencent Holdings Ltd.’s WeChat, PayPal Holdings Inc. and M-Pesa…

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Deutsche Bank Buys Stake in Modo to Expand Digital Payments

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