ORO Bank launched its minimum viable product MVP on May 24 as the official bank of Bhutan’s Gelephu Mindfulness City.
The city is a Special Administrative Region planned in the southern part of the kingdom that emphasises equitable economic growth, cultural preservation, environmental sustainability and good governance values listed out in the south Asian country’s philosophy of Gross National Happiness.
Unlike traditional commercial banks which hold a fraction of depositors’ funds in reserve and lend out the others to generate yields, ORO Bank features being full reserve’, meaning that it won’t lend out or issue credits, offering full liquidity of its customers’ deposits at any given...
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