The financial institution is one of the two to be awarded a full digital bank license by the country’s central bank and was said to start operating early in 2022. The digital bank is seen as a natural extension of Grab Financial Group and a mobile business for Singtel, both groups aiming to enable customers to widely access financial services in Singapore.
Currently, Grab offers several financial products, including its in-house Buy Now, Pay Later (BNPL) service, GrabPay Later, and micro investment service AutoInvest. Moreover, users can purchase digital assets via GrabPay through one of the company’s partnerships with other merchants supplying this type of service.
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