Versa Asia, a Malaysian digital cash management platform, announced that it has achieved over RM 100 million in transactions.
The firm has also witnessed the creation of over 30,000 accounts on its platform in less than a year after the official launch.
In recent years, digital cash management platforms have become a more popular investment method as these platforms invest in secure mutual funds with high liquidity.
Launched in partnership with Affin Hwang Asset Management, Versa is a money market fund investment, a type of mutual fund intended to offer high liquidity with low level of risk.
With entry fees from RM1, Versa said that it offers interest rates of up to 2.46 % p.a. which is on-par with fixed deposits.
Versa is a recognised market operator with approval and license from Malaysia’s Securities Commission (SC).
“With easy access through a mobile app, Versa has achieved a significant milestone with the help of Malaysians who are turning to digital cash management platforms like ours, as opposed to conventional Fixed Deposits due to the latter’s high minimum deposits, long lock-ins, and lower interest rates.
As a Versa user, all you need to do is deposit your cash into the application and let Affin Hwang Asset Management handle the rest while you just sit back and watch your savings grow,”
said Teoh Wei-Xiang, Chief Executive Officer, Versa.
