Global FinTech platform Airwallex was granted a payments license in Singapore, boosting the company’s operations in the ASEAN region, according to a press release sent to PYMNTS on Monday (Nov. 8). The Monetary Authority of Singapore (MAS) cleared Airwallex for a Major Payment Institution License,...
Anthony Tan, Grab co-founder and chief executive officer, is looking to secure his title for life as the Singapore delivery and rideshare platform continues to move forward in its merger with rival Gojek, based in Indonesia. Some backers are concerned that the move would give...
China’s State Council announced late Tuesday that small and micro-sized businesses can defer loan payments past first quarter 2021 as needed, according to CNBC. Certain banks catering to small businesses will also continue to receive government support in the wake of a massive shutdown earlier...
Grab Chief Executive Officer (CEO) and Co-Founder Anthony Tan said the Southeast Asia ride-hailing platform will not launch an initial public offering (IPO) until the company is profitable, CNBC reported on Thursday (Nov. 14). Tan said he anticipates additional markets will turn a profit in...
The Malaysia Competition Commission (MyCC) ruled that Singapore-based Grab is in violation of competition laws and is considering slapping them with a $20.5 million fine, Reuters reported on Wednesday (Oct. 2). “MyCC further notes that [Grab’s] restrictive clauses had the effect of distorting competition in...
In a sign of Grab’s ambitions in the financial services space, the Singapore ride-hailing firm reportedly had discussions to acquire payments provider 2C2P Pte. Unnamed sources claim that the company was one of various possible bidders interested in the payments firm, Bloomberg reported. The Singapore-based payments...
It’s said that the journey of 1,000 miles begins with a single step. The journey to build a digital ecosystem from the ground up starts with a single step, too: getting a critical mass of stakeholders on a vital side of that platform on board....
Banks in China reined in lending in February coming off a record high at the start of 2019, reported The Wall Street Journal. The report, citing data released Sunday (March 10), said banks in China issued 885.8 billion yuan ($131.8 billion) in new loans in February, down...
China is aiming to boost the economy by tax cuts and infrastructure spending in the billions of dollars range. Reuters, citing Chinese Premier Li Keqiang, reported the Chinese government is aiming for economic growth of between 6 percent and 6.5 percent this year, which is below...
