Singapore could be next to issue virtual banking licenses, says DBS

Singapore could be next to issue virtual banking licenses, says DBS

Piyush Gupta, chief executive officer of DBS Group Holdings Ltd Photographer: Wei Leng Tay/Bloomberg

Singapore could follow Hong Kong in handing out virtual banking licenses, according to the head of the largest local lender, in a move that would create another source of competition for the city state’s established banks.

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