One Of Malaysia’s Largest Investment Banks To Launch Bitcoin, Crypto Super App

Kenanga Investment Bank to spouse with Ant Group to motorboat a ace app lodging each of its fiscal services including a bitcoin and crypto integer wallet.

• Kenanga Investment Bank to motorboat a ace app successful 2023 which volition enactment bitcoin and different cryptocurrencies.
• The slope boasts implicit 500,000 users and wants to administer its merchandise to different banks.
• The app volition embed each of the bank’s fiscal services onto 1 platform, including a integer wallet.

Kenanga Investment Bank Berhad, a starring backstage concern slope successful Malaysia, has partnered with Ant Group to motorboat a bitcoin and crypto-friendly “super app”, per a study from Fintech News Malaysia.

The ace app is reported to enactment banal trading, robo-advisory, peer-to-peer (P2P) financing, bitcoin and cryptocurrencies, and different faculties specified arsenic a integer wallet which works with a prepaid paper powered by Merchantrade.

“We person dedicated years successful gathering our concern successful banal broking, futures, plus management, concern banking,” said Datuk Chay Wai Leong, radical managing manager of Kenanga. “More precocious we person collaborated with integer partners similar Rakuten, CapBay, Merchantrade, Tokenize to grow our integer merchandise offerings.”

Ant Group, a starring Chinese fintech company, volition compile each of the bank’s services onto 1 level which is expected to motorboat successful 2023.

“Adopted by galore businesses to physique caller apps and optimize the show of existing apps, our financial-grade mPaaS mobile improvement level is well-positioned to enactment Kenanga successful integrating a wide scope of products and services into its SuperApp,” said Ant's integer exertion president Geoff Jiang.

Kenanga is referring to the ace app arsenic wealth-as-a-service (WaaS) and plans to spouse with integer banks looking to embed the strategy into their infrastructure. Kenanga believes that by providing these services to rising banks, the institutions volition beryllium capable to standard overmuch quicker without needing to make their ain products.

However, successful bid to embed its products into different institutions, Kenanga reportedly inactive needs regulatory support from the Securities Commission of Malaysia to go a Recognized Market Operator (RMO) successful bid to administer products for superior markets.