Line and Rakuten Are Among The First to Receive Taiwan’s Virtual Banking Licenses

Line and Rakuten Are Among The First to Receive Taiwan’s Virtual Banking Licenses

by July 30, 2019
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Taiwan’s Financial Supervisory Commission is said to have issued it virtual banking licences to three consortiums, according to a report by Reuters.

The licenses were granted to Line Financial Taiwan, Next Commercial Banking (led by local telco Chunghwa Telecom) and Rakuten International Commercial Bank.

Virtual banking frameworks and licenses seems to be a major focus for many of the regulators in Asia this year, with regions like Hong Kong issuing 8 licenses, Singapore eyeing to issue 5 and Malaysia looking to finalise its version of the virtual banking framework this year.

 

 

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