Singaporean family office to set up digital bank in Bahrain
The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base.
The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain has granted the bank “in principle approval” pending fulfillment of all requirements.