SG’s fintech startup MatchMove joins digital bank race

Photo by Jens Johnsson on unsplash

Singapore financial-technology firm MatchMove has teamed up with homegrown finance company Singapura Finance Ltd. and two others to apply for a digital banking license in the city-state.

The MatchMove-led consortium is the latest group to announce it’s submitted an application for a digital full banking license to the Monetary Authority of Singapore. That sets the firm against heavyweights including Sea Ltd., which is backed by Tencent Holdings Ltd., and the Grab Holdings Inc.-Singapore Telecommunications Ltd. consortium.

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