Grab-Singtel beats Sea to the punch with Singapore digital bank

Virtual lender GXS launches with 'earn interest daily' perk to lure consumers

20220831 Grab Singtel GXS digital bank app

Grab-Singtel digital bank joint venture GXS promises consumers in Singapore the ability to "earn interest daily." (Photo by Tsubasa Suruga)

DYLAN LOH, Nikkei staff writer

SINGAPORE -- One of Southeast Asia's most prolific technology startups and the region's largest telecommunications firm launched their digital banking joint venture in Singapore on Wednesday, becoming the first mover in a high-stakes battle for consumer finances.

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