Singapore FinTech MatchMove and finance firm Singapura Finance Ltd have come together to apply for a virtual banking license.
They are joined by two other companies.
Matchmove is leading the consortium.
The group has applied for a fullservice digital banking license with the Monetary Authority of Singapore.
What does this mean?
Several companies have applied for digital banking licenses including Sea and Grab, but so far only one bank has got off the ground.