Singapore’s GXS Bank reportedly receives $109m investment from parent company Grab
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
GXS wants to address the pain points of the two in five Singapore residents who are currently underbanked.
The firms will also create a “next-generation” suite of central banking products.
There are only five of the new licences up for grabs.