Reuters exclusively reports Grab eyeing Singapore banking license

Reuters reported exclusively that Grab, Southeast Asia’s most valuable start-up known for ride-hailing and financial services, is exploring a move into Singapore banking as regulators in the Southeast Asian city-state consider allowing online-only banks. A potential entry by Grab – backed by Japan’s SoftBank Group Corp – and others would mark the biggest shake-up in years for a market dominated by DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd.