StanChart Singapore mulls digital-only bank as 'significantly rooted foreign bank'
Add BT as a preferred sourceSTANCHART 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.
TRENDING NOW
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Evergreen funds making inroads into Asia: HarbourVest
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Serenity Park condo owners lower asking price to S$440 million in second shot at collective sale
