Whampoa Group to set up crypto-focused digital bank in Bahrain

Whampoa Group to set up crypto-focused digital bank in Bahrain

Singapore-based investment office Whampoa Group is to set up a digital bank in Bahrain offering traditional banking services as well as round-the-clock payments and settlement for digital asset companies.

The bank, to be established by the end of the year subject to regulatory approval, will serve institutions and sophisticated investors around the world. It plans to offer digital banking services and the trading, custody and asset management of digital assets.

Shawn Chan, CEO of Whampoa Group, comments: "We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.

Bahrain was among the first Gulf Cooperation Council (GCC)