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Grab, Singtel partner up in bid for Singapore digital bank licence

Grab, Singtel partner up in bid for Singapore digital bank licence

Grab (a ride-sharing operator) and Singtel (a telco) have partnered in a bid to apply for one of a handful of digital bank licences to be issued in Singapore. The two partners plan to form a joint entity, with Grab owning a 60% stake. Singapore in June unveiled plans to issue up to five digital bank licenses as part of efforts to add market diversity to the local banking system.

Timothy
Timothy
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