The Monetary Authority of Singapore (MAS) confirmed in 2019 that it will accept applications for five new digital banking licenses. Licensees need to have USD 1.5 billion in paid-up capital. They must establish head offices in Singapore and must be managed by a local business interest.
The MAS will also issue licenses for new virtual wholesale banks. The applicants interested in a wholesale license include Chinese Fintech Ant Financial, TikTok, and two Singapore-based internet service providers, Sea and Razer.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright