Grab and Singtel have announced that Bank Negara Malaysia will grant their digital bank joint venture, GXS Bank, and a consortium of Malaysian investors, including Kuok Brothers, with a full digital banking license, according to a Friday (April 29) press release. The digital bank joint...
Telecom firm Singapore Telecommunications (Singtel) and ride hailing and payments firm Grab Holdings Ltd. each bought 16.3% of Indonesia’s PT Bank Fama International to expand their offering into that nation, according to a Reuters report Friday (Jan. 21). Indonesian conglomerate Elang Mahkota Teknologi Tbk (Emtek), which...
A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. and Singapore Telecommunications Ltd. will hire 200 people before launching publicly in early 2022, Bloomberg reported. The new digital bank is coming about after the joint venture won one of two...
The Monetary Authority of Singapore (MAS) on Friday (Dec. 4) chose four firms to receive digital banking licenses, including “digital full bank” licenses for Singapore-based Sea Ltd. and a consortium of Southeast Asia’s Grab Holdings and technology group Singtel. Authorities also selected China’s Ant Group and a...
January 03, 2020
In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. “The new digital bank licenses mark the next chapter in Singapore’s banking liberalization journey,” said Tharman Shanmugaratnam, senior minister and chairman of […]
August 31, 2022
GXS Bank, which is backed by Southeast Asian super app provider Grab and Asian communications technology group Singtel, has launched a digital bank for consumers and businesses in Singapore. The bank’s first product is a savings account, which will be followed by other offerings for entrepreneurs, gig economy workers and those who are just starting their […]
April 29, 2022
Grab and Singtel have announced that Bank Negara Malaysia will grant their digital bank joint venture, GXS Bank, and a consortium of Malaysian investors, including Kuok Brothers, with a full...
January 21, 2022
Telecom firm Singapore Telecommunications (Singtel) and ride hailing and payments firm Grab Holdings Ltd. each bought 16.3% of Indonesia’s PT Bank Fama International to expand their offering into that nation, according...
December 07, 2020
A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. and Singapore Telecommunications Ltd. will hire 200 people before launching publicly in early 2022, Bloomberg reported....
