Kenanga Investment Bank has launched its Myrra tokenization platform introducing two tokenized money market funds (MMFs) on the Stellar blockchain, a Malaysian first. Secondly, CIMB, Malaysia’s second largest bank, is partnering with Ant International across many of Ant’s solutions, including its blockchain based treasury system.
Ant International has been the inaugural banking client for many tokenized deposit systems around the world, partnering with more than ten banks. It uses the tokenized deposits to manage its internal treasury, enabling it to move money around the world 24/7. Presumably CIMB is considering introducing ringgit tokenized deposits, which is why this aspect of the partnership was qualified with needing regulatory approval.
“Our collaboration with Ant International enables us to accelerate the institutional adoption of distributed ledger technology within the treasury ecosystem,” said Novan Amirudin, CIMB’s group CEO. The bank is also participating in the central bank’s Digital Asset Innovation Hub, which includes tokenized deposit pilots.
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