SWB still needs a BVI banking licence from the Financial Services Commission, with its application under review.
Deposit protection membership approval from the Virgin Islands Deposit Insurance Corporation is also required before SWB can conduct banking activities.
BVI court clears selected asset sale to SWB LLC
BVI High Court cleared Bank of Asia (BVI) liquidators to sell selected assets to SWB LLC under a November 6, 2025 asset sale agreement.
The court order, granted July 23, satisfies one closing condition; other conditions remain outstanding.
Soulpower combination remains subject to closing conditions
The proposed business combination with Soulpower Acquisition Corporation and SWB Holdings remains subject to closing conditions, including Soulpower shareholder approval.
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