Thailand will not restrict the number of digital banking licences, but virtual lenders must have at least 5 billion baht (US$115.43 million) of paid-up capital initially and double it to 10 billion baht within five years, according to a report in the Bangkok Post, citing a top aide to Finance Minister Arkhom Termpittayapaisith.
The government will leave it to the central bank to consider an “appropriate quantity” of digital banks, says Paopoom Rojanasakul, secretary to the finance minister.
“The initial plan was to limit the number of…
