Thai Virtual Bank Race Heats Up as Bidders Outnumber Permits
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Thailand’s virtual banking competition is heating up as applications exceeded the number of licenses the central bank’s plans to grant.
Bank of Thailand received five applications for virtual banking licenses ahead of the Sept. 19 deadline, according to a statement Monday. BOT, which plans to grant no more than three virtual banking licenses, expects to announce the winning bidders by mid-2025, it said. The BOT didn’t name the applicants.