$SGX-Z74 - Singtel was awarded full digital bank license by The Monetary Authority of Singapore (MAS) together with joint venture with Grab. @Ryunanda ur SEA Ltd was also granted the full digital bank license :muscle:

Anyone currently invested in the SGX atm hahaha?


"The Monetary Authority of Singapore (MAS) said on Friday (Dec 4) it will award digital full bank licences to the Grab-Singtel consortium and tech giant Sea, in a first for the city-state and a highly anticipated move that aims to liberalise the financial industry.

Like traditional banks, these players will provide retail customers with services such as opening accounts, deposits as well as issuing debit and credit cards.

However, digital banks will not have a physical presence and all banking services will be done online.


This is different from traditional banks - such as DBS, OCBC and United Overseas Bank - which offer some banking services via the Internet or mobile apps.

Digital full banks can also serve corporate customers."


Full read here: https://bit.ly/3opu7Ax