FILE PHOTO: People wait for the start of Grab's fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su
HONG KONG/SINGAPORE: Grab, South-East Asia's most valuable startup, is exploring a move into Singapore banking as regulators in the South-East Asian city-state consider allowing online-only banks, four people with knowledge of the process 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 people, who declined to be identified as they were not authorised to speak to the media.
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