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Kenanga Investment Bank partners with Ant Group to launch crypto-based app

August 25, 2022

Kenanga Investment Bank partners with Ant Group to launch crypto-based app
Malaysia is on its way of driving cryptocurrency adoption with one of the major local banks moving into cryptocurrency trading as part of its default bank offerings.

Kenanga Investment Bank Behad, considered one of the largest private investment banks with over 500,000 customers, has entered into a collaboration with China-based technology company Ant Group to unveil a cryptocurrency-friendly wallet and trading application, according to Cointelegraph.

As stated by Cointelegraph, Kenanga has signed a memorandum of understanding with Ant to jointly create Malaysia’s wealth application in the form of a super application. As mentioned in thye agreement, Ant’s digital technology unit will provide Kenanga with mPaaS, a mobile development platform originating from AliPay application.

“Adopted by many businesses to build new apps and optimise the performance of existing apps, our financial-grade mPaaS mobile development platform is positioned to support Kenanga in integrating a wide range of products and services into its SuperApp,” Geoff Jiang, digital technology president, At, said.

On the basis of information by Cointelegraph, the design behind SuperApp is to change the way wealth management takes place in Malaysia through integration of financial services such as stock trading, digital investment management, cryptocurrency trading, digital wallet, foreign currency, among others, in a single platform.

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