Singapore’s Whampoa Group Plans Crypto-Friendly Bahrain Bank (1)

Whampoa Group, a prominent private family office in Singapore, plans to set up a digital bank in Bahrain whose services will include round-the-clock payments and settlement for digital-asset companies.

The goal is to establish the bank by year-end and provide banking services as well as the trading, custody and asset management of digital tokens, according to a statement from Whampoa Group. The firm’s founders include Lee Han Shih, a member of the Lee family that founded Oversea-Chinese Banking Corp. and Amy Lee, the niece of the city-state’s founding prime minister.

A government spokesperson for Bahrain said the nation’s ...