🚀 Singapore's digital banks backed by Grab Holdings and Sea Ltd. are pushing for a higher deposit cap! 💰 The Monetary Authority of Singapore limits these banks to S$50 million ($37.6 million) in deposits, but both have almost reached the limit and want to grow further. 💼

➡️ Grab's GXS Bank and Sea's MariBank see the cap as restricting their lending ability and overall growth.

💰 Trust Bank, backed by Standard Chartered, has no deposit restrictions and surpassed S$1 billion in nine months.

🔜 Both Grab and Sea expect updates on the matter soon.

🤔 What do you think? Should these digital banks be allowed to expand their deposits, or does this safeguard make sense for now? Share your thoughts below! 👇