Sea Selected for the Award of Digital Full Bank License in Singapore
04 Dezembro 2020 - 9:33AM
Business Wire
- Digital bank initiative will build on Sea’s long-standing
commitment to supporting the development of the digital economy in
its home market, as well as Singapore’s role as a global hub for
technology and financial services.
- Emphasis on addressing the unmet financial services needs of
young consumers and SMEs will empower more Singaporeans to thrive
in the digital economy.
Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced
that it has been selected for the award of a license to operate a
digital full bank in Singapore. The Monetary Authority of Singapore
announced earlier today that Sea has been selected for the award of
a digital full bank license, the first time such a license is being
awarded in Singapore.
“Sea’s mission is to better the lives of consumers and small
businesses through technology, and we are honoured to be selected
by the Monetary Authority of Singapore for the award of a digital
full bank license and to have the opportunity to offer digital
banking services addressing the underserved financial needs of
young consumers and SMEs in Singapore,” said Forrest Li, Chairman
and Group Chief Executive Officer of Sea. “We are thankful to the
Monetary Authority of Singapore for entrusting Sea with this
important responsibility of broadening access to the opportunities
of digitalisation. As a proudly homegrown company, we look forward
to further contributing to the long-term development of our
nation’s digital economy, creating more employment opportunities in
Singapore, and empowering our whole community to thrive in the
digital era.”
Through its three platforms – Shopee, Garena, and SeaMoney – Sea
is already deeply integrated into Singapore’s digital economy with
young consumers and SMEs. Its digital bank will draw on insights
about the needs of these users from across Sea’s digital ecosystem
to innovate processes, products, and services that will improve the
lives of young consumers and SMEs in Singapore and support the
growth of the country’s digital economy by reducing the barriers to
accessing financial services through technology.
About Sea Limited
Sea Limited (NYSE: SE) is a leading global consumer internet
company founded in Singapore in 2009. Our mission is to better the
lives of consumers and small businesses with technology. We operate
three core businesses across digital entertainment, e-commerce, as
well as digital payments and financial services, known as Garena,
Shopee, and SeaMoney, respectively. Garena is a leading global
online games developer and publisher. Shopee is the largest
pan-regional e-commerce platform in Southeast Asia and Taiwan.
SeaMoney is a leading digital payments and financial services
provider in Southeast Asia.
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Investors / analysts: ir@seagroup.com Media: Martin Reidy,
media@seagroup.com
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