Grab, AirAsia, Razer in talks for Malaysian digital banking licence bid

Up to five licences will be granted to either conventional or Islamic banks.

Grab, AirAsia, Razer, CIMB, and telecommunications firm Axiata are amongst the companies interested in applying for a digital banking licence in Malaysia, according to a Reuters report.

In December, the central bank of Malaysia announced they would grant up to five digital banking licences to either conventional or Islamic banks under a proposed framework to be finalised in June.

The country said it will prefer applicants whose equities are controlled by local companies.

Razer, who is also applying for a digital licence in Singapore, was in talks with a local conglomerate for a Malaysian licence, the report said. Axiata is planning to apply through Axiata Digital Services which owns the e-wallet Boost. AirAsia operates BigPay, an e-wallet with a prepaid card.

Here’s more from Reuters.