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Virtual Banking – Singapore proposes new digital bank framework

22 July 2019

The Monetary Authority of Singapore (MAS) announced on 28 June 2019 that it will issue up to five new digital bank licences. This will allow non-bank players to enter the Singapore digital banking market. MAS expects to invite applications for these licences in August 2019 and will provide more details on the eligibility and admission criteria at that time.

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