Grab wins digital bank licence in Singapore
Ant and Shopee owner also among four groups approved in biggest financial liberalisation in years
SINGAPORE: Ventures linked to the super-app Grab and the Alibaba-owned Ant Group are among four winners of digital banking licences in Singapore, in the biggest banking liberalisation initiative in two decades by the city-state.
Grab will team up with Singapore Telecommunications Ltd (Singtel) to offer digital banking services, while an application by the internet consumer company Sea Ltd, the owner of Shopee, has also been approved, the Monetary Authority of Singapore announced on Friday.
The…
