Malaysia’s tokenised asset market could reach US$43 billion by 2030, according to a new white paper released by Kenanga Investment Bank, Saison Capital, Helicap Labs (HELIX), and Satori Research. The report, titled Project Juara: Malaysia’s Asset Tokenisation Opportunity, explores how tokenisation can reshape the country’s financial landscape, particularly in regulated products such as unit trusts, bonds, and sukuk. It outlines a roadmap for building a digital asset ecosystem and calls for a whole-of-nation approach, where financial institutions, asset owners, infrastructure providers, regulators, and community leaders each play interdependent roles. Released in August, the paper supports the Malaysian government’s increasing focus…
Author: Fintech News Malaysia
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ShopeePay is challenging common perceptions of Buy Now, Pay Later (BNPL) services by highlighting the real-life stories of Malaysian users. Its ‘Fikir Sekarang, Bayar Kemudian’ (Think Now, Pay Later) campaign combines financial education with firsthand user experiences to explore the actual motivations behind BNPL spending. The initiative comes amid a rise in digital financing, with 6.5 million active BNPL accounts in the country. The campaign draws on a survey of around 40,000 SPayLater users, which paints a different picture from typical assumptions. It found that 81% of respondents used the service in emergencies, 63% had previously relied on informal lending…
The central banks of Malaysia, Indonesia and Thailand have appointed additional qualified commercial banks to operationalise the Local Currency Transaction Framework (LCTF), which promotes the use of local currencies in cross-border trade and investment. Bank Negara Malaysia, Bank Indonesia and the Bank of Thailand said the newly appointed Appointed Cross-Currency Dealers (ACCDs) will facilitate the settlement of trade and investment in local currencies between the three countries. This move follows enhancements to the LCTF announced in February 2025. The expanded ACCD network is expected to improve access to local currency liquidity, strengthen customer outreach, broaden transaction options for businesses and…
TNG Digital, the company behind Malaysia’s widely used TNG eWallet app, has crossed a US$1 billion valuation, making it the country’s newest fintech unicorn. The milestone was confirmed by shareholder CIMB Group Holdings, according to Bloomberg. Gurdip Singh Sidhu, Country Head of CIMB Bank Malaysia, said the company meets the benchmark for unicorn status and that an initial public offering is being considered. However, he added that there is no urgency to proceed, and any listing will be carefully timed. TNG Digital is about 45 percent owned by Touch ’n Go Sdn Bhd, a subsidiary of CIMB. The company turned…
Maybank has announced a partnership with Microsoft to accelerate its digital transformation and strengthen its customer service capabilities. The collaboration, valued at approximately RM1 billion over five years, involves the adoption of Microsoft’s cloud, AI, security, and collaboration technologies, including the upgrade of existing systems to Microsoft 365. As part of the agreement, Maybank will utilise Microsoft Azure as one of its primary cloud platforms for key systems, data workloads, and operations. This adoption aims to provide the bank with a scalable, secure, and resilient infrastructure to support real-time data analysis, enable faster deployment of new services, and improve operational…
AEON Bank has partnered with foodpanda Malaysia in a move to support digital banking adoption and expand financial access for riders, merchants and customers in the country. The collaboration outlines joint efforts in areas such as customer acquisition, digital financing, targeted campaigns and value-added services across both platforms’ ecosystems. The partnership aims to improve financial literacy and offer microfinancing options to foodpanda riders, including support for motorcycle and device purchases. It will also help merchants access business financing through AEON Bank’s AB2B Programme. Customers can expect exclusive rewards and expanded access to AEON’s retail ecosystem, including more grocery options beyond…
Bank Islam has launched its flagship Premier Wealth Centre at Menara Bank Islam in Kuala Lumpur, targeting high net worth and mass affluent customers. The launch is part of the bank’s transformation plan to reposition its branches as Wealth and Experience Hubs. It also supports Bank Islam’s Customer Experience pillar by strengthening its advisory capabilities and delivering more seamless, value-driven service. Bank Islam’s current wealth management offerings include unit trusts, takaful, estate planning, treasury products, and share trading. Mizan Masram, Bank Islam’s Group Chief Business Officer – Retail Banking, said the new centres will be located in key, high-growth areas…
Kinetic DAX Sdn Bhd (KDX), a digital asset exchange regulated in Malaysia, has clarified that it is a separate entity from Tokenize Xchange Singapore, which is currently under police investigation. KDX, formerly operating as Tokenize Malaysia, said it is fully licensed in Malaysia and operates independently of AmazingTech Pte Ltd, the Singapore-based operator of Tokenize Xchange. Its management, operations, and compliance functions are entirely based in Malaysia, and its controlling shareholder is Kenanga Investment Bank Berhad. A person familiar with the matter said KDX is preparing to transition to a new brand in the coming weeks. The change will include…
Boost is deeply rooted in Malaysia’s fintech story as the company that pioneered e-wallets and laid the foundations for Malaysia’s cashless culture. Nearly a decade later, the company has evolved to offer a full suite of fintech services from payments, lending, to a full fledged digital bank. Sheyantha Abeykoon, Group CEO, Boost has his eyes set on taking the Malaysian story regional. Will Boost be a household name in Southeast Asia? Will it finally turn profit this year? Check out our full interview to learn more
CIMB Bank Philippines has been ranked 41st in The Asian Banker’s World’s Top 100 Digital Banks 2025, making it the highest-ranked digital bank from the Philippines on the list. The Asian Banker, a provider of strategic intelligence in the financial services industry, evaluated over 160 banks from 42 markets using a scorecard that assessed capabilities across five dimensions. These verticals are mainly customers, market/product coverage, profitability, asset and deposit growth, and funding. The evaluation considered profitability, operational efficiencies, funding security, and the strength of loan books and balance sheets. CIMB Bank Philippines experienced a notable year in 2024, with its…
Bank Negara Malaysia (BNM) has imposed administrative monetary penalties on Bank Rakyat, Bank Simpanan Nasional (BSN), and Bank Islam for breaches related to system downtime and regulatory non-compliance. Bank Rakyat was fined RM2.85 million on 16 June 2025 for failing to comply with the Development Financial Institutions Act 2002 and the Risk Management in Technology (RMiT) Policy Document. The bank experienced multiple service disruptions between June 2023 and December 2024 affecting its e-banking channels, ATMs, and card systems. These incidents exceeded the policy’s thresholds, which limit unplanned downtime to four hours cumulatively over 12 months and 120 minutes per incident.…
NTT DATA Payment Services has launched the ADAPTIS Soundbox, a compact, voice-enabled payment device designed for SMEs, including retailers and F&B outlets in Malaysia, the Philippines, and Thailand. This is the company’s first regional rollout of the device in Southeast Asia. The soundbox accepts payments via QR codes, contactless cards, and e-wallets, with a clear sound alert confirming each successful transaction. This helps staff manage peak-hour traffic without needing to check screens or printed receipts, while reducing the risk of payments being misdirected to the wrong account. The plug-and-play device requires no technical setup and is available with no rental…
APAC saw a sharp rise in human-led attacks in 2024, with attack rates growing over 60% year-on-year and increasing 37% overall, according to the LexisNexis Risk Solutions Cybercrime Report 2025. After years of rising global fraud, the report reveals that fraud is now plateauing in most regions. APAC, however, tells a different story. In 2024, while global daily fraud attack rates rose by just 1%, APAC experienced a dramatic 61% surge in human-led attacks, driving a 37% overall increase in attack rates. This coincided with a 16% rise in digital transaction volumes, highlighting a growing gap between rapid digital growth…
CapBay, a Malaysian supply chain financing provider, has entered a strategic partnership with Singapore-based Olea to support Malaysian exporters through cross-border financing. The collaboration aims to help Malaysian enterprises expand into global markets by combining CapBay’s SME network and financing infrastructure with Olea’s international trade expertise and liquidity solutions. Olea has processed over US$2 billion in trade transactions across key global corridors. CapBay, which launched in 2017, has disbursed more than RM4.3 billion in financing through over 35,000 financing notes, supporting over 2,200 SMEs across 20 industries. It operates in Malaysia, Singapore, and Thailand, and is regulated by the Securities…
RHB Banking Group has introduced a new full flexi housing loan under its Premier proposition, aimed at helping Malaysian real estate investors purchase residential properties in the UK and Australia. The RHB Overseas Property Financing is denominated in Malaysian Ringgit (MYR) and is tailored for Malaysians who are not permanent residents or citizens of either country. The financing applies to properties located within 30 kilometres of the central business districts of Melbourne and Sydney, as well as London’s Zones 1 to 3. These areas cover key business centres, major cultural landmarks, and well-connected residential neighbourhoods in the UK capital, and…
The Ministry of Finance (MOF) has issued a warning to the public about fraudulent messages and websites linked to the upcoming RM100 Sumbangan Asas Rahmah (Sara) cash aid. According to The Edge Malaysia, Deputy Finance Minister Lim Hui Ying said no application or registration is required for the one-off aid. The payment will be credited directly to the MyKad of all eligible Malaysian citizens aged 18 and above starting 31 August. Lim noted that the ministry has received a spike in inquiries from the public, including reports of fake messages containing links that falsely claim recipients must register to receive…
Malaysia is outpacing North America and Europe in the adoption of digital payments, with nearly all consumers in the country likely to use emerging methods in the next year, according to a new Mastercard survey. The report found that 99% of Malaysians are expected to turn to options such as QR codes, mobile wallets, biometrics, and Tap & Go mobile payments. Already, 63% prefer these newer methods over traditional ones like cash or manual card entry, compared to just 25% in North America and 24% in Europe. The Asia Pacific average stands at 53%. Cash remains the most used payment…
Malaysia plans to implement a data centre framework in October to coordinate policies in its fast-growing digital infrastructure industry, Reuters reported, citing a joint statement from the trade and digital ministries. The framework designates the Malaysian Investment Development Authority (MIDA) as the central authority responsible for reviewing and approving all new data centre projects as well as planned expansions. This move is intended to reduce overlapping regulations across agencies and streamline development processes. Malaysia has experienced a surge in data centre investment, with major global players such as Microsoft, Nvidia, Google, and ByteDance committing billions since early 2024. Currently, the…
Tech solutions provider Green Packet has appointed Datuk Wira Shahul Hameed bin Shaik Dawood as its new Managing Director and Group CEO, effective 21 July 2025. Shahul brings over three decades of experience across the public and private sectors, with a focus on business transformation, digitalisation, and human capital development. He previously served as CEO of the Human Resource Development Corporation (HRD Corp) under the Ministry of Human Resources from 2020 to 2025. During his tenure, he oversaw the organisation’s transformation efforts, including its rebranding from HRDF to HRD Corp, the expansion of the PSMB Act 2001, and a doubling…
CIMB Bank has signed a collaboration agreement with Pharmaniaga Logistics, a unit of Pharmaniaga Berhad, to improve access to supply chain financing and payment flexibility for SMEs in the healthcare sector. The partnership allows private clinics, independent pharmacies and other medical buyers to access extended credit terms of up to 50 days through the CIMB SME BusinessCard. Businesses can also receive a 0.5 percent cash rebate on purchases from Pharmaniaga when using the card. CIMB said the collaboration is intended to ease financial strain for healthcare SMEs through better cash flow and working capital solutions. The CIMB SME BusinessCard, launched…