PANews reported on May 6 that according to Reuters, Singapore Gulf Bank announced today that former Federal Reserve Vice Chairman Randal Quarles will serve as Vice Chairman of its newly established Global Advisory Board to assist the digital bank in advancing its international development strategy.

The chairman of the advisory board is Amy Lee, founder of Whampoa Group. Other members include Fan Min, co-founder of Ctrip, China's largest online travel agency, Louis Cheung, founding CEO of Boyu Capital, Shaikh Mohamed Khalifa Al Khalifa, CEO of Beyon Digital, and Jihan Wu, chairman of Matrixport. Gulf Bank is supported by Bahrain's sovereign wealth fund Mumtalakat and Singapore's Whampoa Group. It is the first fully licensed digital bank in the Middle East and North Africa (MENA) region, which can accept customers online worldwide and is allowed to provide services to cryptocurrency customers.