iFast to acquire 85% stake in UK-incorporated BFC Bank for £40m

The acquisition, which will enable the group to add a digital bank to its fintech ecosystem, is part of iFast's 5-year plan to have a global business model.

The company said while it has made "substantial progress" as a wealth management platform, "a lot more can be achieved if there is a bank within the group".

https://bt.sg/JfST

And in case you're wondering what the deal here is...

#BTExplains: What is BFC Bank and why is iFast buying it?

We dug up a bit more information about the bank, which is based in the UK but has its origins in a Bahrain trading company.

https://bt.sg/JfqC