Why the GrabPay Card has to die for GXS Bank to thrive

More: Another Chinese EV player comes to Thailand. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [What the death of the GrabPay Card tells us about Grab’s plans for GXS Bank]( - Aeon Bank’s plans for Islamic banking services in Malaysia - Other newsy highlights such as the latest Chinese EV firm setting up shop in Thailand --------------------------------------------------------------- Hello {NAME} Some of the best advice about writing I’ve seen is to kill your darlings. Rather than anything morbid, this simply means that when a particular part of a piece of writing doesn’t work with the overall piece, you have to remove it. No matter how hard you may have worked on it or how beautiful you think the passage is, it must die for your work's greater good. Successful writers are great at unsentimentally carrying out this process, and so are successful tech companies. Instead of consigning flowery metaphors and unnecessary exposition to the grave, tech firms need to look at the new products, services, or features they’ve rolled out, and get rid of those that don’t serve the company overall. Grab is about to kill one of its darlings, with the Mastercard-issued GrabPay Card set to be discontinued from June 1. As today’s featured piece explores, the death of this card may be necessary for another of Grab’s products to thrive. -- Peter  ---------------------------------------------------------------  THE BIG STORY [GrabPay’s retreat is GXS Bank’s gain]( Many were quick to see GrabPay's shuttering as a casualty of Grab’s profitability drive. But looking at the bigger picture, that might not be the case. --------------------------------------------------------------- TRENDING NEWS [Aeon eyes Q2 launch of Islamic digibank for Malaysian Gen Z, MSMEs]( The bank aims to launch services for businesses by 2025, especially those using platforms like TikTok and Instagram, reported Fintech News Malaysia. [Chinese automaker Chery to produce 50,000 EVs in Thailand with upcoming plant]( Chery is the eighth Chinese car company to establish a base in the Southeast Asian country, Reuters reported. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Microsoft’s $1.5b AI bet in UAE tops chart]( Keep track of all the startup investment activities in Asia through our weekly funding list. --------------------------------------------------------------- TECH IN ASIA REGIONAL FOUNDERS MEETUP: SINGAPORE Tickets almost gone – chope yours before it’s gone! 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