Banking
Singapore — Banking: Online Banks
Singapore has five MAS-licensed digital banks: GXS Bank (Digital Full Bank, backed by Grab and Singtel, serving retail and sole proprietors), MariBank (Digital Full Bank), ANEXT Bank and Green Link Digital Bank (Digital Wholesale Banks, restricted to SMEs/corporates), and Trust Bank (digitally-native, partnered with Standard Chartered and FairPrice Group — as of mid-2025 the 4th largest bank in Singapore with over 1 million customers). SGD deposits at Digital Full Banks (GXS, MariBank) and Trust Bank are SDIC-insured up to S$100,000 per depositor, same protection as traditional banks.
VerifiedGovernment / official sourceMonetary Authority of Singapore (MAS) digital bank licensing / fintechnews.sgLast reviewed: 2026-07-20
Key facts
- Five MAS-licensed digital banks: GXS Bank, MariBank, ANEXT Bank, Green Link Digital Bank, Trust Bank.
- GXS Bank and MariBank are Digital Full Banks (DFBs) serving retail customers and sole proprietors; ANEXT and Green Link are Digital Wholesale Banks (DWBs) restricted to SMEs/corporates.
- Trust Bank (Standard Chartered + FairPrice Group partnership) had over 1 million customers by mid-2025, making it Singapore's 4th largest bank.
- SGD deposits at GXS, MariBank, and Trust Bank are SDIC-insured up to S$100,000 per depositor — same protection level as traditional banks.
Common mistakes
- Assuming digital banks carry less deposit protection than traditional banks — GXS, MariBank, and Trust Bank all carry the same SDIC insurance up to S$100,000.