$Grab Holdings(GRAB)$

GXS Bank (or #GxS) is the name of Singapore’s first digital bank that will revolutionalise banking the way we know it today. Two years ago, Singtel entered into a joint venture with Grab to bid for two available retail digital bank licenses. Last Monday, the bank officially opened its office at its permanent location after squatting at various locations in the past two years. And very soon, they will introduce GxS to the public. It has been months of hard work and the team can finally see all their efforts bear fruit in the coming weeks. They spent a lot of time figuring out the right name for the bank – many possible names were being considered but what really made the decision for us was that this name reflects the pedigree from, and ecosystems of, the two shareholders – hence GxS, a landmark collaboration between two household names. While they are very different companies, they have realised that they share many similarities. First, they are relentlessly focused on delighting our customers to ensure they make every day better for the people. Next, in their own respective industries, they build leadership. Grab has been at forefront of innovation, disrupting the traditional transportation and food delivery businesses. At Singtel, they have led the introductions of every new connectivity technology introduced here – from the humble pager a long time ago (first in the world to launch) to being the first to have nation-wide #5G coverage across Singapore. Both of them hope to bring that innovative and “can-do-better” spirit to serve their customers in banking. Doing things differently, right from the start.