Wednesday, June 12, 2024
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Asia’s first full reserve digital bank, ORO Bank, launches in Bhutan powered by Finastra

ORO Bank Launch Overview:

  • Mission and Philosophy:
    • ORO Bank aims to foster personal, corporate, and financial growth sustainably.
    • Emphasizes environmental, social, and economic sustainability.
    • Aligns with Bhutan’s Gross National Happiness (GNH) philosophy.
  • Operational Details:
    • Launched in Bhutan, focusing on the Gelephu Mindfulness City Special Administrative Region (SAR).
    • Built to serve the new 1,000 square-kilometre economic centre in South Bhutan.
    • Targets global start-ups and innovative emerging businesses.
    • Promises a financial infrastructure that prioritizes savings security.
  • Technology and Partnerships:
    • Partnered with Finastra to use its Essence core banking solution in the cloud.
    • Launched to global markets within six months using Finastra’s SaaS core banking tech.
  • Core Values and Commitments:
    • Focus on sustainability and mindfulness.
    • Plans to monitor and offset its carbon footprint.
    • Pledges to donate 1% of profits to sustainability initiatives.
  • Banking Services:
    • Provides a broad ecosystem of traditional finance (TradFi) and future finance (FutureFi) services.
    • Designed onboarding process to accommodate start-ups and innovators with unconventional business models.

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