Main page News, Fintech, Banking, Blockchain, Malaysia

The world’s first blockchain bank is about to settle down in Labuan, Malaysia, according to the official announcement.

The bank will be developed by the joint efforts of CGCX, which is a crypto trading platform, an investment firm Archipelago, and IBH Capital, which is also an investment firm.

Dato' Howard Choo, MD of IBH Capital says the firm does business in a fast-paced marketplace characterized by constant changes.

“The more things change, the stronger our commitment is to building value for our investors by staying true to our client-focused approach; sound and sustainable investment through industry expertise and thorough analysis," Dato' Howard Choo highlighted.

The announcement states CGCX will provide technical support to IBH. Moreover, CGCX will develop “a multifunctional blockchain-based wallet with enhanced security features, endorsing the rebranded bank, and offering up to $100 million worth of STO.”

Earlier, in November, Ministry of Education of Malaysia announced a setting up of a University Consortium on blockchain tech and launch of a university degree issuance & verification platform based on the blockchain tech.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error