Razer mulls digibank retail licence but notes tight Dec 31 deadline

Firm has been approached to form consortium to apply for licence: chief strategy officer

Published Thu, Dec 12, 2019 · 09:50 PM

Singapore

RAZER is still mulling over applying for a Singapore digital banking licence but if it proceeds to meet the Dec 31 deadline, the gaming lifestyle brand will be gunning for one of two retail licences on offer.

Speaking to The Business Times, Razer chief strategy officer Lee Li Meng noted that as a consumer brand with strong reach among millennials and youth, "it would not make as much sense for us to apply for a wholesale licence".

The Monetary Authority of Singapore (MAS) is looking to issue up to three digital wholesale bank licences, which are focused on lending to SMEs (sma…