Kenanga Investment Bank Berhad and China’s Ant Group have agreed to collaborate.
This collaboration will allow Kenanga to use mPaaS, a mobile development network.
Recent years have seen a meteoric rise in the use of cryptocurrencies. Malaysia is now in the process of developing a super app that incorporates cryptocurrency trading, with a number of different firms working on different aspects of development to increase the user base and overall accessibility of cryptocurrencies.
A recent news release said that Kenanga Investment Bank Berhad, a major private investment bank in the country, was planning to create a “super app” that would include all aspects of managing one’s financial life.
Numerous Offerings Under One Roof
According to reports, the bank and China’s Ant Group have agreed to collaborate. Many features, such as a digital wallet, stock and cryptocurrency trading, foreign exchange, and digital investment management, are anticipated to be included in the “super app.” This collaboration will allow Kenanga to use mPaaS, a mobile development network based on the AliPay App.
It’s important to remember that Kenanga started dabbling with crypto about five years ago. The bank’s recent step, given the present demand for crypto, could increase the organizations earnings over time.
Kenanga Group managing director Datuk Chay Wai Leong stated:
“We look forward to not only unifying a broad spectrum of financial offerings under one roof but more importantly, to make wealth creation more accessible by democratizing financial services for the millions of Malaysians.”
The private bank has also formed an alliance with Rakuten, a Japanese e-commerce company that supports cryptocurrencies. Rakuten Trade, one of Malaysia’s most popular trading apps, is used by the company to facilitate online stock trading in the nation.