Grab-led GXS rolls out Singapore’s first digital bank

Register now for FREE unlimited access to Reuters.comRegisterSINGAPORE, Aug 31 (Reuters) – GXS Bank, the digital bank joint venture of ride-hailing firm Grab Holdings (A6I.F) and Singapore Telecommunications (STEL.SI), launched Singapore’s first digital bank on Wednesday for the retail market in the affluent city-state.Nasdaq-listed Grab’s rapidly expanding financial services have become a key part of its growth strategy as it seeks to offer banking, digital payments, financing, insurance, food delivery and wealth management services.Grab and tech firm Sea secured “digital full bank” licences in December 2020, allowing the Singaporean companies to directly take deposits and offer …
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