Home Technology Ant Group and Malaysian Kenanga Bank Develop Cryptocurrency App

Ant Group and Malaysian Kenanga Bank Develop Cryptocurrency App

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Ant Group and Malaysian Kenanga Bank Develop Cryptocurrency App

Ant Group, the fintech subsidiary of Chinese tech giant Alibaba, has teamed up with Malaysian investment bank Kenanga to launch a wealth management app with features to trade cryptocurrencies.

See related article: Tencent gets patent deal to use blockchain for missing person notices

Fast facts

  • Kenanga Berhad Investment Bank announcement Wednesday that it signed a memorandum of understanding with Ant Group to develop “SuperApp,” which is designed to integrate stock trading, crypto trading, currency exchange, and e-wallet functionality into a single platform.
  • The investment bank will build the app using Ant Group’s mPaaS mobile development platform.
  • Blockchain technology is at the heart of Ant Group’s digital technology unit, which develops projects in the areas of blockchain, private computing, security and distributed databases.
  • Tencent, Alibaba’s main rival, is also active in blockchain development. It’s last week received a patent for blockchain-based notices for missing persons.

See related article: Chinese group Ant, Tencent, Baidu and JD.com push for NFT self-regulation

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