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Dec 06, 2020 05:00 PM (GMT+8) · EqualOcean
On December 4, Singapore's Monetary Authority (MAS) announced that four consortia have obtained digital banking operation licenses issued by the country, among which the wholly-owned subsidiary of ant group has obtained a wholesale Digital Banking (DWB) license. Another applicant for DWB license is a consortium composed of Greenland Financial Investment Holding Group Co., Ltd., Hong Kong lianyirong Co., Ltd. and Beijing synergetic Equity Investment Fund Management Co., Ltd. MAS expects the new digital bank to begin operation in early 2022.