Singapore has announced four winning bidders for the digital banking license which are expected to start their digital banking operation by early 2022.
One of the digital full bank licenses went to Sea Limited (NYSE: SE), a home-grown internet technology company listed on the New York Stock Exchange.
Many investors are familiar with Shopee, the e-commerce platform operated by Sea Ltd (Sea), but may not have heard much about its mobile gaming and digital financial services. In this article, we shall delve into Sea’s business segments, financials, strengths, and threats to better understand the company.
Sea started as a gaming company in 2009 and diversified into digital financial services in 2014 and e-commerce in 2015. As the digital financial services business grew larger, it was rebranded into SeaMoney in 2019.
According to its annual report, the company has the largest revenue share of online gaming in South East Asia and Taiwan.