StanChart Singapore mulls digital-only bank as 'significantly rooted foreign bank'

STANCHART Singapore on Friday told The Business Times it is exploring an additional banking licence under the Significantly Rooted Foreign Bank (SRFB) framework in Singapore.

In doing so, it would build something similar to its digital banking outfit, MOX, in Hong Kong, it said.

StanChart Singapore was in August named the country's first SRFB, with the Monetary Authority of Singapore looking to further boost the SRFB framework to possibly offer an additional full bank licence.