Razer Fintech, one of Singapore’s respected fintech organizations promoted by entrepreneur Min-Liang Tan, has applied for a digital bank license in Singapore. The proposed bank will focus on the underserved youth and millennials segment. Razer Fintech is part of gaming hardware maker Razer. If it gets the license, it will build what is described as the ‘world’s first global youth bank’, to be called Razer Youth Bank, the company said, adding it will progressively expand into a global banking network. To be headquartered in Singapore, Razer Youth Bank will leverage on Razer’s strong lifestyle brand, its global presence, as well as the existing digital payments platform Razer Fintech already runs, the company said. Razer Fintech plans to take up a 60% majority stake in Razer Youth Bank, with the remaining equity interest taken up by a consortium of strategic partners including Sheng Siong Holdings, FWD, LinkSure Global, Insignia Ventures Partners and Carro.
