It partnered with lender Singapura Finance and different fintechs for its bid.
Fintech startup MatchMove confirmed that it submitted an utility for a digital full financial institution license (DFBL) to the Financial Authority of Singapore (MAS), the agency introduced in a press launch.
MatchMove partnered with lender Singapura Finance, Bangkok-based blockchain startup Lightnet, and London-based fee service supplier OpenPayd.
The Singapore-headquartered agency presents a “banking-as-a-service” platform that features the e-wallet Spend.Ship.Lend suite.
The bid goals to succeed in digitally underserved segments like SMEs and gig employees. Particularly, the proposed digital financial institution will develop banking services for retail clients and SMEs, in keeping with Shailesh Naik, founder and group CEO of MatchMove.