Grab-Singtel, Sea, Ant, Greenland-consortium land Singapore digital bank licences

The Monetary Authority of Singapore (MAS) announced late Friday the long-awaited winners of the city-state’s digital bank licences.

A Grab-Singtel tie-up and Sea Ltd have received permits to form digital full banks, while Ant Group and a Greenland Financial consortium landed digital wholesale bank licences. The consortium led by Greenland Financial, which is the investment arm of state-owned Chinese real estate developer Greenland Group, included Linklogis Hong Kong and Beijing Co-operative Equity Investment Fund Management.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter