Bank of Thailand to allow first virtual banks by 2025 By Cointelegraph
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Bank of Thailand has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows.
The “Consultation Paper on Virtual Bank Licensing Framework” published by the central bank says that applications will be available later in 2023 allowing virtual banks to act as financial services providers. The move focuses on increasing competition and boosting Thailand’s economic growth.
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Bank of Thailand has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows.
The “Consultation Paper on Virtual Bank Licensing Framework” published by the central bank says that applications will be available later in 2023 allowing virtual banks to act as financial services providers. The move focuses on increasing competition and boosting Thailand’s economic growth.
Continue Reading on Coin Telegraph
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