iFAST to acquire an 85% stake in BFC Bank for $55m.

iFAST, an investment holding company, agreed to acquire an 85% stake in BFC Bank, a provider of financial services, for $55m. “Wealth management platforms with seamless links to good digital banking services that allow consumers and investors to manage payment flows seamlessly across borders while getting attractive deposit rates in various currencies, will have strong advantages. With that in mind, the Group believes that one of the central components of the iFAST Ecosystem going forward will be a digital bank located in a trusted jurisdiction,” Lim Chung Chun, iFAST Chairman and CEO.