KUALA LUMPUR – The Labuan Financial Services Authority (Labuan FSA) has officially approved and issued the Digital Banking Finance License to Asia Digital Bank (AsiaDB). So far this is the first Digital Banking (Investment Bank) License issued by Labuan FSA.
AsiaDB will now strive to establish its digital presence in Malaysia while facing outwards to the ASEAN countries as well as the global economies. This will help shape the new structure of digital finance innovation and economic development in the post-pandemic era.
Asia Digital Bank CEO Chris Wang said in a statement on December 4 that AsiaDB aims to construct a world-leading digital asset trading and self-financing platform, and to promote the transformation of the traditional financing into a comprehensive digital finance ecosystem.
AsiaDB’s digital financing products will incorporate centralized financing services and decentralized financing protocol clusters and will make use of the combination between multiple modules to create a comprehensive digital financing infrastructure.
Relying on this platform, AsiaDB will actively carry out multiple tests, and enhance the stability of the platform system and increase the diversity of platform products through recruitment of talents in key areas such as product design and technology development.
In the future, AsiaDB will make use of the platform to further improve the digital ecosystem in the region, by providing core services such as cross-border investment and financing capabilities, digital asset management, as well as cross-border structured trade financing.
This platform, on the one hand, through “global capital + digital operating” model, will effectively help small and medium-sized enterprises in Malaysia to reduce their operating costs in the form of non-ringgit currency, on the other hand, to enable high-quality investors from ASEAN and the world to participate in and share the fruits of regional economic growth.
Asia Digital Bank is a wholly owned subsidiary of a Chinese-funded offshore bank – Asia Pacific Investment Bank (APIB), APIB is established by China Nanjing Zijin Investment Group Co.,Ltd.
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