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Grab's tie-up with MUFG signals serious move into fintech

Southeast Asian 'super app' banks on $706m deal to differentiate from rivals

Grab claims its app has been downloaded over 160 million times. (Photo by Ken Kobayashi)

SINGAPORE -- Japan's Mitsubishi UFJ Financial Group's $706 million strategic investment in Grab will help the Singapore ride-hailing company fulfill its ambition to become a regional fintech player as it counts on the partnership to reach millions of Southeast Asia's underbanked population.

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