Indonesian e-commerce giant and Britain's Standard Chartered have launched a digital banking service in Southeast Asia's biggest economy, the companies said on Monday.

The service will be available inside Bukalapak's platform, which has more than 110 million users and also 20 million business owners, according to a joint statement.

The statement did not specify the amount of investment planned for the service, which is called BukaTabungan (Open savings).

Beside targeting Bukalapak's users, the service is also aimed at micro, small and medium-sized enterprises, many of which do not have access to formal financing yet, the statement said.

Shares of closed at 284 rupiah per share on Monday, or down more than 60% from the company's initial public offering (IPO) price at 850 rupiah per share.

The e-commerce company raised $1.5 billion from its IPO last year. (Reporting by Stefanno Sulaiman Editing by Ed Davies)