Malaysian bank works on a super app to raise crypto adoption

Kenanga Investment Bank Berhad is one of the largest private investment banks in Malaysia and plans to launch in early 2023 a crypto friendly app. 

Users will have access to digital investment management features, e-wallet, FX, stock trading and other services. 

Although it is unusual for a bank to make cryptocurrency trading part of its default banking offerings, this may be what the future looks like.

Kenanga Investment Bank Berhad has more than 500,000 customers and made an announcement about their partnership with China’s tech giant Ant Group, to create a “super app” integrating diverse financial services, foreign currency exchange and others into a single platform.

“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,”

stated Ant’s digital tech president Geoff Jiang

“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,”

said Kenanga Group managing director Datuk Chay Wai Leong.

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