Standard Chartered Seeks Digital Banking Permit in Singapore - NewsBreak

The U.K.'s Standard Chartered bank is embarking on a joint venture deal with Singapore's National Trades Union Congress (NTUC) to launch a digital-only bank. As Reuters reported on Monday (Sept. 6), the deal will see a Standard Chartered vehicle taking on a 60% stake in the venture, which is worth $107.2 million, with the NTUC's enterprise arm getting the remaining $96 million stake.