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Grab confirms application for Singapore banking license to tap SMEs and 'gig' workers

Super app plans to become 'largest fintech ecosystem in Southeast Asia'

Grab has diversified its businesses from ride-hailing to food delivery to financial services to be more profitable.   © Reuters
KENTARO IWAMOTO, Nikkei staff writer | Singapore

SINGAPORE -- SoftBank Group-backed unicorn Grab will submit an application for a digital banking license in Singapore, the company has confirmed, as it sees the financial businesses as a driver for future growth.

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