June 26, 2020 / 10:58 AM / a month ago

Thai central bank allows non-banks to apply for FX e-money licenses

BANGKOK, June 26 (Reuters) - Thailand’s central bank said on Friday it has allowed non-bank operators to apply for foreign exchange e-Money (FX e-Money) licenses from June 26, to enhance ease of doing business and foreign exchange transactions.

Any non-bank operator wishing to apply for a license must be a Thai entity with a minimum registered paid-up capital of 100 million baht ($3.24 million) and must have an electronic money service business license, the central bank said in a statement.

The new license will allow non-bank operators to issue e-money in foreign currencies for customers’ payment of cross-border goods and services, it said. ($1 = 30.91 baht) (Reporting by Orathai Sriring; Editing by Martin Petty)

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