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Digital Banks' Profitability and Digital Currency
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Overview
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Asia's digital banks, particularly WeBank and MYbank in China, and Kakao Bank in South Korea, have achieved profitability, while neo banks in the U.S. face challenges, with an average loss of $4 per customer. The potential for private digital currencies, like 'Bezos bucks,' is discussed, along with the need for regulatory compliance and corporate reputation.
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How might the dominance of established tech companies and conglomerates impact the future of digital banking in Asia?
What are the potential implications of private digital currencies on the traditional banking sector and the broader economy?
What strategies can neo banks in the U.S. adopt to achieve profitability and overcome challenges in the lending space?
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