SINGAPORE, June 18 (Reuters) - Singapore’s central bank said on Thursday that 14 applicants for digital bank licences would progress to the next stage of assessment.
The eligible applicants comprise five digital full bank applicants and nine digital wholesale bank applicants, the Monetary Authority of Singapore said, adding it expects to award the licences by the end of the year. MAS will issue up to two full licences and three wholesale licences.
The central bank originally received 21 applications for a project that marks Singapore’s biggest banking liberalisation in two decades. (Reporting by John Geddie; Editing by Christian Schmollinger)