SINGAPORE - Gaming company Razer is hoping to introduce a digital banking business overseas, even as it awaits the outcome of its application for a digital full bank licence in Singapore.
Headquartered in Singapore and Irvine, California, Razer has business interests in gaming hardware, software and services, as well as virtual gaming credits and fintech.The Hong Kong-listed company posted a net loss of US$17.7 million in the first half of the year, a 62.9 per cent improvement from a net loss of US$47.7 million in the same period last year.
Elaborating on Razer's fintech plans, Mr Lee said that even if the firm gets the digital full-bank licence in Singapore, it will continue to look abroad for other opportunities as the country's banking sector is highly competitive. Referring to traditional banks, he added:"They have taken decades to grow a business just in South-east Asia, but with a digital bank, being more nimble, we want to build a global business and leverage on the Razer Inc side of things as they grow alongside ."