do so. In 1991, Globe-Mackay merged with Clavecilla Radio Corporation, a domestic telecommunications pioneer, to form GMCR, Inc. The merger gave GMCR the capability to provide all forms of telecommunications to address the international and domestic requirements of its customers. The merger was also approved by the Congress through Republic Act No. 7229 enacted on March 19, 1992, which amended its franchise. On August 20, 1998, GMCR was renamed as Globe Telecom, Inc. In 1993, Globe partnered with Singapore Telecom, Inc. (STI), a wholly owned subsidiary of Singapore Telecommunications Limited ("Singtel"), after Ayala and STI signed a memorandum of understanding. In 2001, Globe merged with Isla Communications Company, Inc. ("Islacom"), a joint venture with Deutsche Telekom as foreign partner. It became its wholly owned subsidiary effective on June 27, 2001. Deutsche Telekom eventually sold its share to Singapore Telecom. In 2003, the National Telecommunications Commission ("NTC") granted Globe Telecom's application to transfer its fixed line business assets and subscribers to Islacom, pursuant to its strategy to integrate all of its fixed line services under Islacom. Subsequently, Islacom was renamed as Innove Communications, Inc. In 2004, Globe invested in G-Xchange, Inc. ("GXI"), a wholly owned subsidiary, to handle the mobile payment and remittance service marketed under the GCash brand using Globe Telecom's network as transport channel. GXI started commercial operations on October 16, 2004. In late 2019, the GCash brand was refreshed by global branding and design agency Serious Studio. That brand refresh was suggested by Ant Financial, Globe's venture partner in GCash (by way of Mynt, GXI's successor company). In November 2004, Globe and seven other leading Asia-Pacific mobile operators ("JV Partners") signed an agreement ("JV agreement") to form Bridge Alliance. The joint venture company operates through a Singapore-incorporated company, Bridge Mobile Pte. Limited (BMPL) which serves as a commercial vehicle for the JV partners to build and establish a regional mobile infrastructure and common service platform to deliver different regional mobile services to their subscribers. The Bridge Alliance has a combined customer base of over 900 million subscribers among its partners in Asia Pacific, Middle East, Africa, Europe, and the Americas. In 2005, Innove was awarded by the National Telecommunications Commission (NTC) with a nationwide franchise for its fixed line business, allowing it to operate a Local Exchange Carrier service nationwide and expand its network coverage. In December 2005, the NTC approved Globe Telecom's application for third generation (3G)