Moomoo Securities Malaysia has surpassed one million registered users, a milestone reached just over a year after entering the local market. The company initially reached 100,000 users within six weeks of launch and has since expanded tenfold. Moomoo offers Malaysian investors real-time market data and trading access across the US, Hong Kong, China A-shares, Singapore, and Malaysia. Users can invest in equities, REITs, warrants, and US options, and tap features like fractional-share investing, Cash Plus, and automated savings plans to diversify their portfolios. Moomoo recently introduced moomoo AI, an artificial intelligence tool designed to help users analyse stocks and uncover…

Ria Money Transfer and Xe, both business segments of Euronet Worldwide, have partnered with Google to make cross-border money transfers easier to find and conduct. The collaboration aims to improve access to payment services for Google users by integrating Ria and Xe’s digital offerings into the platform. Ria and Xe currently support transfers to 3.2 billion mobile wallet accounts, 4 billion bank accounts, 4 billion Visa cards and 624,000 locations in nearly 200 countries and territories. The global digital remittance market was valued at US$23.4 billion in 2024 and is expected to grow to US$83.2 billion by 2034, driven in…

Paydibs has been officially onboarded as a Third-Party Acquirer (TPA) for the Financial Process Exchange (FPX) by Payments Network Malaysia (PayNet), allowing the payment solutions provider to process FPX transactions directly. With this move, Paydibs becomes one of ten non-bank acquirers connected to PayNet’s FPX infrastructure. The direct connection removes intermediaries in the payment flow, enabling greater control over transaction processing, settlement and cost efficiency. The onboarding also strengthens Paydibs’ technical infrastructure and its ability to offer merchant-first solutions across online platforms. The onboarding represents a key step in Paydibs’ ongoing expansion. It follows the company’s rollout of Paydibs NEO,…

At Money20/20 Asia, we sat down with Jaykie Tan, Head of Business Development APAC at Mambu, and Cecilia Tan, Regional VP at Thredd, to unpack one of fintech’s biggest questions: Are e-wallets or digital banks better positioned for profitability, innovation, and financial inclusion in Southeast Asia?

Curlec by Razorpay has integrated ShopBack Pay into its online payment gateway, giving Malaysian businesses access to over six million users of the rewards platform. The move enables merchants using Curlec to offer added value at checkout through cashback, promotions, and other incentives, catering to the growing number of price-sensitive shoppers in the region. A recent study found that 61% of consumers in Asia actively look for discounts and rewards amid rising living costs. ShopBack Pay is now available as a payment option on Curlec-powered e-commerce sites. Participating businesses will gain in-app visibility, access to targeted campaigns, and exclusive promotions.…

PolicyStreet is offering RM100 in TNG eWallet credit for every car insurance renewal made on its platform, under its ongoing Cash Kembali campaign. The offer is open to all Malaysians, with no minimum spend, and applies to any vehicle regardless of make or model. RM100 will be sent via email as a TNG reload PIN within 30 days of renewal. The cashback applies per vehicle, so customers with multiple cars can earn RM100 for each eligible renewal. For example, renewing two cars could return RM200. Launched on 7 July 2025, the campaign runs until further notice as part of PolicyStreet’s…

Alliance Bank Malaysia has adopted a new asset and liability management (ALM) system from analytics provider SAS. The move aims to improve risk oversight, meet regulatory requirements and boost operational efficiency. The SAS platform allows the bank to conduct daily liquidity and interest rate risk assessments, run stress scenarios and make quicker decisions using predictive analytics. The upgrade supports Alliance Bank’s compliance with Bank Negara Malaysia’s risk and liquidity guidelines. It comes amid heightened industry scrutiny, following a series of global bank failures since 2023, most of which were linked to liquidity risk. Since implementation, the bank has automated 90%…

Digital wallets and cryptocurrencies are two of the most targeted channels for fraud this year, according to SEON’s 2025 Digital Fraud Outlook, making the stakes higher than ever. This surge brings with it opportunity and the heightened risk of fraud. As more transactions move online, fraudsters are leveraging increasingly advanced tactics to exploit vulnerabilities in onboarding and transaction processes. Traditional fraud prevention methods are struggling to keep up with the sheer scale and speed of today’s changing threat landscape. Synthetic identity fraud now ranks among the top five threats keeping fraud teams up at night, particularly in mobile-first, high-growth markets…

Boost users can now make QR payments at Weixin Pay merchants in China and at UnionPay-accepted outlets globally, following a new integration with UnionPay International. The update enables Boost users to scan QR codes, including static ones, at retail stores in China through Weixin Pay, which is also known internationally as WeChat Pay. Outside China, users can pay at UnionPay merchants in countries such as Singapore, Thailand, Brunei, Vietnam, Cambodia, Korea, and Australia. Payments are made through Boost’s existing “Scan & Pay” feature, with no need for a separate app or sign-up. While overseas, users can continue accessing Boost eWallet…

As Malaysia grows into a rising fintech hub in Southeast Asia, 2025 presents a crucial year for industry leaders, startups, regulators, and investors to collaborate, innovate, and drive digital finance forward. The nation’s fintech ecosystem is evolving rapidly, propelled by advancements in digital banking and AI-driven financial services. Against this backdrop, these fintech events provide unparalleled insights into the trends, challenges, and opportunities shaping the financial sector here. From deep dives into digitalisation in banking and insurance to discussions on cybersecurity, regtech, and more, these events help future-forward fintech players navigate the complexities of an increasingly digital financial landscape. Here are…

Hokkoku Financial Holdings and Malaysian fintech firm Soft Space are set to launch a SoftPOS solution that will allow merchants in Japan to accept both contactless card and stablecoin payments using only an NFC-enabled Android smartphone or tablet. Scheduled for launch in Q4 2025, it will reportedly be the first SoftPOS solution to support stablecoin payments in a real commercial setting while meeting global mobile payment security standards. The initiative is part of Hokkoku’s efforts to build a “Super Cashless Region” by making digital payments more accessible and cost-effective in the Hokuriku area. Powered by Soft Space’s Fasstap technology, the…

Kumpulan Wang Persaraan (KWAP) has appointed 12 global General Partners (GPs) to manage RM6 billion under its Dana Pemacu initiative, with investments spanning private equity, infrastructure, and real estate. Launched in May 2024, Dana Pemacu aims to support Malaysia’s economic transformation under the Ekonomi MADANI framework and the Government’s GEAR-uP initiative to “Raise the Ceiling.” The fund will focus on key sectors including financial inclusion, food security, education, the silver economy, healthcare, energy transition, digital economy, and other impact-related themes. The majority of the committed capital will be allocated to Shariah-compliant investments, while the remainder will be diversified across international…

The Securities Commission Malaysia (SC) has released a consultation paper inviting public input on proposed changes to its regulatory framework for Digital Asset Exchanges (DAX). The proposals aim to support the growth of Malaysia’s digital asset market, strengthen investor protection, and enhance the resilience and integrity of licensed exchange operators. The SC noted that DAXs play a key role in enabling responsible access to digital asset investments within a regulated environment. Since the DAX framework was introduced in 2019, the local digital asset industry has continued to grow, with 2024 recording the highest annual trading value at RM13.9 billion, a…

Bank Islam Malaysia has implemented Mastercard Move, a global money transfer solution that enables secure digital fund transfers within Malaysia and across borders through Mastercard’s network. The service will be made available to corporate customers via the bank’s eBanker Pro platform in the third quarter of 2025. It aims to simplify operations, optimise liquidity, reduce counterparty risk, and provide end-to-end visibility for businesses. A cross-border service agreement was exchanged between Bank Islam and Mastercard at the recent Bank Islam Sustainability Conference. Mastercard Move supports payments to over 200 countries in more than 150 currencies, offering trackable transactions, transparent fees, estimated…

Malaysia has launched the Startup ASEAN platform, a regional digital hub aimed at supporting startups across Southeast Asia. Led by the Ministry of Science, Technology and Innovation (MOSTI) and implemented by Cradle Fund, the initiative is part of Malaysia’s commitments under its 2025 ASEAN Chairmanship. The platform is designed to provide startups with access to regional markets, funding opportunities, talent, and ecosystem insights. It follows an earlier pre-launch phase in 2024 and is now fully operational. The ASEAN Startup Initiative, endorsed in 2023, appointed Cradle under MOSTI’s mandate to lead its implementation. The broader effort aims to improve policy support,…

Public transport users in Malaysia will be able to purchase and activate the My50 unlimited travel pass digitally through the TNG eWallet app starting 1 July, removing the need to visit service counters. The initiative was announced by Prasarana and the Touch ‘n Go Group. It forms part of efforts to support the digitalisation of public transportation services and encourage the shift toward a cashless society. The feature is available to Malaysian citizens with a compatible smartphone that supports the app. Users are required to complete a one-time electronic identity verification process before purchasing the pass digitally. Prasarana Group President…

alrajhi bank Malaysia has launched a new campaign, ‘Hi MY alrajhi Save & Earn’, alongside a refreshed version of its MY alrajhi mobile banking app. Running from 25 June to 30 September 2025, the campaign offers a range of cashback rewards and special profit rates for customers who manage their daily banking through the app. The upgraded app features a new interface and enhanced tools to make saving, spending, and account management more convenient. As part of the campaign, customers can earn term deposit rates of up to 3.80% per annum by placing deposits through the app until 31 August…

The Advisory Committee on Sustainability Reporting (ACSR), established by the Securities Commission Malaysia (SC), has issued a consultation paper seeking public input on a proposed framework for sustainability assurance. The framework sets out requirements for external assurance on sustainability disclosures by companies covered under the National Sustainability Reporting Framework. It is intended to enhance the reliability of these disclosures and support greater investor confidence. The consultation paper outlines key considerations including the adoption of international assurance standards, oversight mechanisms for assurance providers, competency requirements for assurance leaders, and the proposed implementation timeline. The consultation period runs from 25 June to…

RHB Banking Group has named Vashta Mahendran as its new Group Chief Operations Officer, effective 1 July 2025. She takes over from David Chong, who will be stepping down on 30 June to pursue new opportunities. Vashta joined RHB in 2015 as Group Treasury’s Lead for Strategic Business Management. Her role was expanded in 2021 to include Group Wholesale Banking, and in 2022 she was appointed to lead group-wide transformation initiatives. With more than 30 years of experience in the financial sector, she brings institutional knowledge, strong leadership, and execution capabilities to the role. She began her career at Arthur…

The Securities Commission Malaysia (SC) has issued new Guidelines on Product Governance (PGG) to improve investor protection and support responsible product development and distribution in the capital market. The PGG forms part of the SC’s ongoing efforts to enhance industry conduct and uphold market integrity. It adopts a principle-based approach, giving firms the flexibility to implement governance frameworks suited to their business models while meeting regulatory expectations. The guidelines apply to unlisted capital market products such as unit trusts and corporate bonds. They do not apply to ordinary shares, customised over-the-counter derivatives, venture capital or private equity funds, or products…