YTL-Sea consortium’s digital bank gets approval to operate in Malaysia

[KUALA LUMPUR] The digital bank jointly owned by YTL Digital Capital and Singapore’s Sea, has secured approval from Malaysia’s Ministry of Finance to commence operations, starting from Dec 20, 2024.

YTL Digital Bank, the joint venture company between YTL Digital Capital and Sea, said the bank will be operating under the name Ryt Bank, and this will be Malaysia’s first AI-powered digital bank.

“Ryt Bank is set to launch in phases to the public over the next few months,” said YTL Digital Bank in a statement on Tuesday (Jan 14).