HSBC Malaysia Bank Sends First LC Transaction Using Blockchain

HSBC has enacted the countries’ first blockchain transaction with the execution of credit deal letters involved in the importation of resins from Singapore. It marks an excellent step for the Malaysian companies in the digitalization of trade. The Undertakings Involved A Malaysian company, Simply Packaging Sdn Bhd, got into a transaction with a company in Singapore, both companies…

Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low

Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms in key economic sectors had taken steps toward digital currency adoption, according to a business news…

Xendpay Joins RippleNet to Expand Global Money Transfer Services

Money transfer service Xendpay has joined Ripple’s global network RippleNet to support international transactions. Going beyond the U.S. dollar Ripple announced the news on Aug. 20. Per the news release, RippleNet will allow Xendpay to provide money transfer services beyond the United States dollar. Xendpay will use Ripple’s pre-existing network of banks and other financial…

Malaysia Launches Work Visa Program for Blockchain Tech Professionals

Malaysia has launched a work visa program targeting tech freelancers that addresses a demand for blockchain capable talens, local news outlet the Star reported on June 18. The Malaysia Digital Economy Corporation (MDEC) — a government-owned organization that oversees the tech sector — blockchain organization Nem Foundation and job marketplace Jobbatical have jointly launched the program. The program aims to attract…

Can Blockchain Save Malaysian Real Estate

Can Blockchain Save Malaysian Real Estate?

The most important benefits of blockchain technology are its full transparency over all transactions, immutability and being tamper-proof. While not all businesses and industries require such benefits, one industry that is embracing it is the real estate industry in Malaysia. At the recent World Blockchain Summit KL 2019, Elizabeth Siew, an established Malaysian real estate…