Standard Chartered Partners with Singapore Union on Digital Bank
- Bank announces joint venture with Singapore’s NTUC Enterprise
- The pair will invest $179 million in the new business
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Standard Chartered Plc signed a deal with Singapore’s biggest trade union group to form a digital bank -- the British lender’s second virtual business in the region.
The London-based bank said Monday it had agreed a joint venture with BetaPlus, a company controlled by the social enterprise division of the National Trades Union Congress, known as NTUC Enterprise. Bloomberg reported in August 2020 that the pair were in talks.