SINGAPORE - Gaming company Razer has submitted an application to secure a digital full bank licence, the news coming just days after telco Singtel and technology company Grab announced that they had applied for a licence together.
The MAS had said in June last year that it will issue up to five new digital bank licences for both full and wholesale banks to players who may not have an established record in banking.Razer's endeavour into the banking sector is via a consortium comprising supermarket chain Sheng Siong, technology company LinkSure Global, automotive marketplace Carro, insurance services firm FWD and Insignia Ventures Partners.
Having a digital full bank licence will allow the consortium to take money from retail customers as well as extend loans.