Successful applicants and other top contenders for licences
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There were 14 eligible applicants out of 21 submissions.
PHOTO: ST FILE
Prisca Ang , Prisca Ang
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Here are the four successful applicants for Singapore's digital bank licences as well as other top contenders which had made public their bids. There were 14 eligible applicants out of 21 submissions.
DIGITAL FULL BANK LICENCES
• Tech giant Sea, which owns e-commerce platform Shopee, game developer Garena and digital payments arm SeaMoney.
• Grab and Singtel submitted a joint application. Grab will hold a 60 per cent stake, with the telco giant holding the remaining stake.
• Razer Youth Bank. Gaming firm Razer's application was through a consortium that includes Sheng Siong Holdings, tech firm LinkSure Global, automotive marketplace Carro, insurer FWD and Insignia Ventures Partners. Razer Fintech owns 60 per cent of the consortium.
• Beyond consortium, led by Osim founder Ron Sim's V3 Group and payments company EZ-Link. It also includes Temasek unit Heliconia, property developer Far East Organization and the Singapore Business Federation.
DIGITAL WHOLESALE BANK LICENCES
• Alibaba-backed Ant Group.
• A consortium comprising Greenland Financial Holdings, supply chain financing firm Linklogis Hong Kong and Beijing Co-operative Equity Investment Fund Management. Greenland Financial is the investment arm of Chinese real estate developer and state-owned enterprise Greenland Group.
• A consortium comprising Hong Kong financial services group AMTD, peer-to-peer lending platform Funding Societies, Singapore utilities provider SP Group and Xiaomi Finance.
• A consortium led by mainboard-listed wealth management firm iFast Corporation with two Chinese partners - digital bank operator Yillion Group and fintech company Hande Group.
• ByteDance Technology, which owns video-sharing app TikTok.
