MAS: Receives 21 Applications for Digital Bank Licences
- Received 21 applications for digital bank licences as at the close of application on 31 December 2019
- Comprises 7 applications for the digital full bank (DFB) licences also 14 applications for the digital wholesale bank (DWB) licences
- The new digital bank licences have attracted strong interest from a diverse group of applicants
- The majority of applicants are consortiums, with entities seeking to combine their individual strengths to enhance the digital bank’s value proposition
- MAS thanks all interested applicants and also stakeholders who have provided valuable comments
- MAS will announce the successful applicants in June 2020 also successful applicants expected to commence business by mid-2021