SINGAPORE: Singapore is discussing the possibility of allowing virtual banks to operate in the city state, the Monetary Authority of Singapore (MAS) said.
“MAS is studying whether to admit such digital-only banks with non-bank parentage,” the financial regulator said in an e-mailed reply to questions from Bloomberg News.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!