virtual banks

The city plans to roll out a revamped virtual asset exchanges framework that allows exchange operators to open to retail investors

While some digital banks in the APAC region have turned profitable such as Tencent-backed WeBank in China and the eponymous KakaoBank in Korea, most digital-only lenders’ risk frameworks and business models have not been tested through the economic cycle.

SINGAPORE (June 20): The Monetary Authority of Singapore (MAS) is studying the potential for opening the doors to “digital-only banks with non-bank parentage”.

SINGAPORE (June 17): Grab, Southeast Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the city state consider allowing online-only banks into its market, four people with knowledge of the process say.

(June 12): Grab, Southeast Asia’s most valuable startup, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks, four people with knowledge of the process said.