FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File Photo
SINGAPORE: Grab, South-East Asia’s most valuable start-up, is exploring a move into Singapore banking as regulators in the city-state consider allowing online-only banks, sources said.
Grab is close to hiring a consultancy to advise it on its banking potential and is gearing up to apply for a digital-only bank licence in Singapore if the banking regulator decides to open up the sector, said the sources, who declined to be identified as they were not authorised to speak to the media.
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