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Grab-Singtel, Ant Group entities win Singapore digital banking licenses

( December 7, 2020, 06:19 GMT | Official Statement) -- MLex Summary:  Four companies have been granted digital banking licenses by Singapore's central bank, out of 14 eligible applicants. A consortium comprising super-app Grab and Singapore Telecommunications, as well as an entity wholly-owned by Internet giant Sea received digital full bank licenses, which allows them to offer financial services to retail customers. An entity wholly-owned by Ant Group, as well as a consortium comprising Greenland Financial Holdings Group, Linklogis Hong Kong, and Beijing Co-operative Equity Investment Fund Management were granted digital wholesale bank licenses, which allows them to serve SMEs and other non-retail segments.The central bank's statement is attached. ...

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