Singapore-based digital asset investment firm Whampoa will enter the Bahrain market by setting up a digital bank.
Whampoa Group plans to establish a digital bank in Bahrain by the end of 2023, according to a statement. The virtual lender will serve institutions, innovators and sophisticated investors around the world with an offering that includes digital banking services as well as trading, custody and asset management of digital assets.
«We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate,» said Whampoa Group chief executive Shawn Chan.
Whampoa is a Singapore-headquartered multi-family office. Its founders include renowned figures from the city-state including Amy Lee, niece of the late Lee Kuan Yew, and Lee Han Shih, member of the OCBC banking family.
