Ant Group is also looking to raise funds due to restructuring costs and potential fines due to its halted IPO last year
EyeVerify, a US-based biometric security firm is set to be sold by Ant Group.
The biometric security firm uses eye recognition technology to change mobile payments and banking application passwords.
Ant Group is holding talks with different firms concerning the sale. This comes amid increased tension between Washington and Beijing due to tightening surveillance of user data in the United States and the fast-growing technology in China.
The US government recently banned the use of eight Chinese software apps over national security issues. Alipay, developed by Ant Group, was also affected by the ban.
Although Ant Group refused to issue a comment regarding the matter, the sale is expected to be carried out within HI of 2021.
We’ve reported that Tencent partnered with automaker Geely on smart car tech.