The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg
The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg

Chinese tech giants bid to be among Singapore’s new wave of digital banks

  • The likes of Ant Financial, ByteDance and Xiaomi are looking to snag one of the licences issued by the Lion City’s central bank this year
  • While competition with existing lenders is expected, analysts say the new players’ entrance will help innovate the Singaporean banking industry

Topic |   Singapore
The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg
The Monetary Authority of Singapore is issuing as many as five digital banking licences by June. Photo: Bloomberg
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