Singapore shortlists 14 applicants for digital bank licences

A view of the Monetary Authority of Singapore building in Singapore April 18, 2016. Reuters.

Singapore’s central bank has shortlisted 14 applicants for up to five digital bank licences on offer in the city-state’s biggest banking liberalisation in two decades.

The shortlist, out of the 21 applications received, comprises five digital full bank applicants and nine digital wholesale bank applicants who will now move to the next round of the selection process, the Monetary Authority of Singapore (MAS) said on Thursday.

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