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Aya Lin · · 1 min readIn brief: Taiwan issues first virtual bank licenses
- Taiwan issued its first virtual banking licenses to three consortiums, Reuters reported.
- Licenses were granted to Line Financial Taiwan, Chunghwa Telecom’s Next Commercial Bank, and Rakuten International Commercial Bank, which is operated by Rakuten and Taiwan’s IBF Financial Holdings.
- The development follows similar moves by regulators in other Asian markets, such as Hong Kong.
- Taiwan’s Financial Supervisory Commission said it has no plans to issue more virtual bank licenses at the moment.
Editing by Charmaine de Lazo
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