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.
