The DFB licences allows firms to serve all kinds of customers and require $1.5 billion in capital as well as local control, while the DWB licences have a capital commitment of $100 million and can see foreign firms holding majority stakes.
SINGAPORE (Jan 7): A total of 21 groups have submitted bids for Singapore’s digital bank licences as at the close of application on Dec 31, 2019, the Monetary Authority of Singapore (MAS) announced Tuesday.
This comprises 7 applications for the digital full bank (DFB) licences, and 14 applications for the digital wholesale bank (DWB) licences.
