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Usha Yadav
Aug 24, 2022
by Usha Yadav

Kenanga Investment Bank Berhad, Ant Group to Launch a Crypto App

Kenanga Investment Bank Berhad Ant Group

Table of contents

  1. Crypto Super App With Various Features
  2. Ant Group Using Crypto Outside China
Malaysia continues to speed up the adoption of cryptocurrencies. One of the local central banks integrates cryptocurrency trading into its standard banking services. With more than 500,000 clients, one of the biggest private investment banks, Kenanga Investment Bank Berhad, has teamed up with Chinese tech giant Ant Group to release a cryptocurrency-friendly wallet and trading software.

Crypto Super App With Various Features

The "super app" based on Bitcoin anticipates having various features, such as an e-wallet, stock and cryptocurrency trading, FX, and digital investment management. Kenanga will use mPaaS, a mobile development network created from the AliPay App through this collaboration. It is worth noting that Kenanga only recently started experimenting with cryptocurrency. The bank's most recent action would increase revenue for the business, given the demand for cryptocurrencies.

By combining several financial services, such as stock trading, digital investment management, cryptocurrency trading, digital wallets, foreign exchange, and others, onto a single platform, the SuperApp aims to transform wealth management in Malaysia. The app will supposedly debut in early 2023, according to Kenanga.

Many people are surprised by the most recent news, given China's position on cryptocurrency. Leading Chinese internet and technology companies signed a petition to outlaw cryptocurrencies and NFTs last month. In addition, they even pledged that they wouldn't set up secondary marketplaces. Tencent and Ant Group were on this list.

Ant Group Using Crypto Outside China

It appears that Ant Group was using cryptocurrency outside of China. Malaysia has recently been moving toward cryptocurrencies. The government urges legalizing cryptocurrencies and NFTs by several municipal administrations in the area. Despite this, the area's finance minister maintained his skepticism regarding cryptocurrency payments. The future of the "super app" is still in doubt due to China's tech giant's influence and Malaysia's unclear cryptocurrency legislation.

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Crypto App Ant Group Berhad
Kenanga Investment Bank Berhad, Ant Group to Launch a Crypto App
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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