The Monetary Authority of Singapore (MAS) has announced the successful applicants for its coveted digital bank licences.
Two digital full bank licences have gone to Sea and a consortium of Grab and Singapore Telecommunications (Singtel).
Two digital wholesale licences went to Ant Group and a consortium of Greenland Financial Holding Group, Linklogis Hong Kong and Beijing Co-operative Equity investment Fund Management.
Here are some immediate thoughts on the new licensees.
1. Grab/Singtel is no surprise at all. Any conversation in Singapore about the likely winners – and there have been many of late, in the absence of much else to talk about bar Covid – has typically started with this consortium before moving on to whom the others might be.
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