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MAS grants four digital banking licences to challenger banks

The Monetary Authority of Singapore (MAS) announced last Friday that it has granted four digital banks licences to operate in the city state. Among the successful applicants are two digital full banks (DFB) and two digital wholesale banks (DWB). One DFB is a consortium comprising Grab Holding Inc. and Singapore Telecommunications Ltd., while the other is a wholly-owned subsidiary of…

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