Ant Group and Grab's venture win Singapore digital banking licences

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Ant Group and Grab's venture win Singapore digital banking licences

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04-12-2020, 10:20 PM

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Ant Group and Grab's venture win Singapore digital banking licences

An honorable member of the Coffee Shop Has Just Posted the Following:

A venture between Southeast Asian ride-hailing firm Grab and Singapore Telecommunications and internet platform company Sea Ltd have each won licences to run Singapore's first digital banks, in the city-state's biggest banking shakeup in two decades.

Alibaba Group affiliate Ant Group and a consortium comprising China's Greenland Financial Holding Group also won licences, Singapore's banking regulator said on Friday.

The Monetary Authority of Singapore (MAS) expects the new digital banks to...

Ant Group and Grab's venture win Singapore digital banking licences

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