Solowin Holdings in Hong Kong is planning to buy a U.S.-licensed bank.
The company, which specializes in traditional and digital assets, said in a press release that it “is in the advanced stages of negotiating” an acquisition through a designated affiliate. The acquisition would only involve the charter; all assets and liabilities would be removed before closing.
The bank wasn’t identified.
The license would let Solowin offer services such as deposit-taking, lending, and payment processing.
The potential acquisition “would be a game-changer for Solowin,” Peter Lok, the company’s chairman and CEO, said in the release. “This clean-charter opportunity would provide us with the ultimate strategic flexibility to innovate, scale our fiat-based services, and deliver unparalleled value to our clients worldwide.”