GXBank successfully completed an operational readiness review and has been approved to commence operations effective Sept 1.
GXBank, the subsidiary of GXS Bank, is the first of five digital bank applicants to receive approval to commence operations. GXS Bank is the digital bank that’s backed by a consortium consisting of Grab Holdings and Singapore Telecommunications (Singtel).
The approval, which was given by Malaysia’s Minister of Finance and Bank Negara Malaysia, was made ahead of the April 2024 deadline set by the Malaysian central bank.
