Ant Group to help build a crypto-trading super-app in Malaysia

Ant Group, the fintech arm of Alibaba Group Holding, and Malaysia’s largest investment bank, Kenanga Investment Bank Berhad договорились to develop the country’s first wealth-management-focused application.

The super-app will include trading in stocks, cryptocurrencies, and investments in digital-asset-based products. Kenanga will utilise the partner’s mobile development platform.

Prior to that, the investment bank launched a robo-adviser, which attracted $55 million in client funds in six months.

Ant Group has developed one of China’s largest payment systems, Alipay.

In 2019 Malaysia приняла the cryptocurrency and digital-token law. At the same time the SC зарегистрировала первые три биржи цифровых активов.

In March 2022, the K-KOMM urged the authorities to develop a legal framework for the legitimate circulation of Bitcoin and other cryptocurrencies.

A month earlier, Kenanga Investment Bank Berhad приобрел 19% of the local cryptocurrency exchange Tokenize Xchange.

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