MALAYSIA, July 1 (Bernama) —iFAST Corporation Ltd. (“iFAST Corp” or together with its subsidiaries,the “Group”) has led a consortium in the submission of an application for a digital bank licence to Bank Negara Malaysia (BNM).
The iFAST-led digital bank (“iFAST Bank”) consortium is a synergistic partnership that builds on the strengths of both local companies in Malaysia as well as international players. iFAST Corp will own a 40% stake in the digital bank if the application is successful. The beneficial equity ownership of the consortium will be approximately 57% Malaysian.
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