Ant Financial, Grab, and Razer enter the game

According to the first financial news, Ant Financial announced on Thursday that it has announced that it has applied for a digital banking license from the Singapore Financial Supervisory Authority (MAS), thereby becoming another company to enter Singapore after the Southeast Asian travel giant Grab and the gaming company Razer. Giant companies in the digital payment industry. The Singapore Financial Supervisory Authority has stated that it will issue five such digital banking licenses, including a maximum of two digital full bank licenses and three digital wholesale bank licenses to boost the banking industry. The most vigorous reform in 20 years. According to the relevant information provided by MAS, digital banks that apply for full digital banking licenses can serve a variety of customers, but require local control and S $ 1.5 billion (US $ 1.1 billion) of funds; banks that apply for wholesale banking licenses can be operated by foreign companies Operating with low funding threshold of S $ 100 million.