Singapore-based tech conglomerate Sea Ltd intends to spin off its financial services arm Monee through a public listing and launch an artificial intelligence enterprise platform business, according to an internal memo circulated on Tuesday.

In the memo sent to employees, company founder Forrest Li said he believes a listing will give its financial payments and services business the "resources and room to go further and grow faster than it currently can."

The business operates across Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Taiwan region, and Brazil, offering mobile wallets, payment processing, credit, and banking services.

The memo also stated that Sea Ltd will launch an AI-focused enterprise platform called "Sea Cloud."