Malaysian bank works on crypto-friendly ‘super app' with Ant Group tech
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Loading... - Akira Tanaka
- 02 Sep 2022
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Malaysia continues accelerating its pace of cryptocurrency adoption as one of the major local banks is moving into cryptocurrency trading as part of its default banking offerings.
Kenanga Investment Bank Berhad, one of the largest private investment banks with more than 500,000 customers, has partnered with China’s tech giant Ant Group to launch a crypto-friendly wallet and trading application.
According to an announcement on Wednesday, Kenanga has signed a memorandum of understanding with Ant to jointly develop Malaysia’s wealth application called categorized as a super app. Under the terms of the agreement, Ant’s digital technology unit will provide Kenanga with mPaaS, a mobile development platform originating from AliPay App.
“Adopted by many businesses to build new apps and optimize the performance of existing apps, our financial-grade mPaaS mobile development platform is well-positioned to support Kenanga in integrating a wide range of products and services into its SuperApp,” Ant’s digital tech president Geoff Jiang noted.
The super app is designed to revolutionize the way of managing wealth in Malaysia by integrating diverse financial services like stock trading, digital investment management, crypto trading, digital wallet, foreign currency exchange and others into a single platform. Kenanga reportedly plans to launch the app in early 2023. Read More...
