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Thai Central Bank Anticipates Virtual Banks To Start Operating By 2025
(CTN NEWS) – BANGKOK – According to a statement released by the Thai central bank on Thursday, it is the bank’s expectation that virtual banks will commence operations in the second quarter of 2025.
Wipawin Promboon, a senior director at the BOT, stated during a news conference that the institution is planning to announce that it intends to propose issuing licenses to three operators for virtual banks.
Thai central bank expects virtual banks to start operations in 2025 https://t.co/KzrAfzwhUi pic.twitter.com/5RZfPqTx0m
— CNA (@ChannelNewsAsia) January 12, 2023
However, the BOT may open this up for other applicants. Wipawin did not identify any banks.
According to Wipawin, virtual banks must have registered capital of at least 5 billion baht ($150.15 million), and international operators must have a Thai partner to conduct business in Thailand.
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