Internet firm Sea applies for full digital bank licence in Singapore

It will focus on serving millennials and SMEs.

Consumer internet firm Sea has applied for a full digital bank licence in Singapore, the company announced

It will focus on serving millennials and SMEs, said to be the underserved segments in the market.

Founded in 2009, Sea is the parent company of Shopee, online game developer Garena, and digital financial services network SeaMoney. It listed on the New York Stock Exchange in 2017 and remains the only US-listed Southeast Asian internet firm with a market capitalisation of $25b (US$18.5b).