Razer, the gaming equipment maker, said on Tuesday it was leading a consortium of companies to apply for a Singapore digital banking licence to join a race to shake up the city-state’s financial sector. Razer’s fintech business, which will hold a 60 per cent stake in the consortium, which includes FWD and supermarket giant Yan Group.
(Photo from RAZER’s official website)
The effort to build a retail bank will “take advantage of Razer’s lifestyle brand, global presence and innovative digital payment platforms established by Razer Financial Technology,” the department said.
Other members of the consortium include venture capital firm Insignia Ventures Partners, mobile networking company LinkSure Global and car trading platform Carro.
Earlier this week, Grab, the Singapore taxi software giant, said it would co-operate with Singtel to apply for a digital banking licence.