Malaysian Kenanga Bank Launching New Crypto Super App

Chinese tech giant, Ant Group, developer of one of China’s most successful digital-payments platforms Alipay, is building Malaysia’s first crypto ‘Super App,’ in collaboration with Kenanga Investment Bank. Features included will be crypto trading, e-wallets and portfolio management.

A press statement on Kenanga’s website, said that the bank has signed an agreement with the affiliate of e-commerce company Alibaba (BABA), to integrate the Chinese company’s mobile development platform, mPaaS, on the new the application.

The Super App will also use Ant Group’s blockchain, privacy computing and security solutions, stock trading and foreign exchange functionalities included. The launch is anticipated to take place early 2023.

Ant Group’s digital tech president, Geoff Jiang, commented:

“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.” 

Datuk Chay Wai Leong, group managing director of Kenanga Investment Bank, said:

“We look forward to not only unifying a broad spectrum of financial offerings under one roof, but to make wealth creation more accessible by democratizing financial services for the millions of Malaysians around the country.”

Founded in 1973, Kenanga is Malaysia’s largest independent investment bank with more than 500,000 customers. The bank recently also introduced Rakuten Trade in Malaysia, a joined effort with Japan-based e-commerce group Rakuten.