Bahrain to host a new digital bank.
The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Boardon May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base.
The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain hasWhampoa Group is associated with two prominent Singaporean Lee families — including Amy Lee, niece of Singaporean statesman Lee Kuan Yew, and Lee Han Shih of Singaporean multimedia conglomerate Potato Productions.
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