14 digital bank applicants to move to next stage of assessment: MAS
Add BT as a preferred source
Vivienne Tay
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE Monetary Authority of Singapore (MAS) on Thursday said that 14 out of the 21 digital bank applications will progress to the next stage of assessment. This was after they had met the eligibility criteria.
Five of the 14 left standing are digital full bank applicants, while nine are digital wholesale bank applicants. The MAS did not name the shortlisted applicants. The central bank and regulator had received 21 digital bank applications in January 2020. This means that two out of the seven applicants for the digital full bank licences are out, while five applicants for the digital wholesale bank licences failed to make the cut.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
