Grab to team up with Singtel for Singapore digital bank licence

Grab to team up with Singtel for Singapore digital bank licence

The Edge Markets - Malaysia·2019-12-30 13:32

SINGAPORE/BENGALURU (Dec 30): Singapore Telecommunications Ltd (Singtel) is partnering with Southeast Asian ride-hailing firm Grab Holdings Inc to apply for a digital full banking licence in Singapore, the two companies said on Monday.

The pair in a joint statement said they will establish a consortium with Grab owning 60% and Singtel holding the remainder, with the aim of offering a variety of digital banking services.

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