Petaling Jaya, Malaysia – MX Global, a Malaysian-based fintech company, has scored an equity investment to build brand awareness, hire more high-quality talent and develop new features within Malaysia’s regulatory framework.
Said equity investment came from global cryptocurrency and blockchain ecosystem Binance and a Redeemable Convertible Preference Shares (RCPS) investment from digital business solutions provider Cuscapi Berhad.
MX Global is one of the four Recognized Market Operator-Digital Asset Exchange (RMO-DAX) that has been granted full approval by the Securities Commission Malaysia (SC) in July 2021 and complies with the standards and practices to uphold investor protection in conducting safe and secure trading of cryptocurrencies in the country.
In addition, MX Global offers solutions for users to store and trade cryptocurrencies under compliant and safe cyber-security environments including a regulated local cryptocurrency exchange.
Dato’ Fadzli Shah, CEO of MX Global, said, “MX Global aspires to be the preferred liquidity platform for digital asset or cryptocurrency investors and token issuers locally and internationally. The cooperation of Binance will not only support us in achieving this goal but should also provide the most capital-efficient opportunity for us to align and compete with other global players in the industry. We will continue building a safe, easy and real digital asset ecosystem for our customers.”
Meanwhile, with this initial effort to support sustainable growth in the cryptocurrency market in Southeast Asia, Binance hopes to work with regional and local partners to drive further collaborations.
Changpeng Zhao (CZ), founder and CEO of Binance, said, “We see potential in Malaysia given its respected and innovative crypto and blockchain community. We believe that partnering with MX Global will be a springboard to new opportunities, both in Malaysia and the region as a whole as well as across the entire crypto and blockchain ecosystem.”
Lastly, Datuk Jayakumar Panneer Selvam, executive chairman at Cuscapi Berhad, commented, “This historic collaboration between digital assets and payment systems will create integration and synergy that will bring together the high potential of the use of cryptocurrency to conduct commerce. With blockchain and smart contracts being increasingly incorporated into our lives, the potential for this will be massive.”