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Revolut bows out of Singapore digibank race: CEO

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"Based on our initial analysis, it does not make sense to have a banking licence here because of the capital requirements," said Revolut chief executive Nikolay Storonsky at the sidelines of the Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology (SFF x SWITCH) conference.

HIGH-profile payments fintech Revolut has bowed out of the race for a digital banking licence in Singapore over...

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