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News Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting ..
News Malayan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) with the National Bank of Cambodia (NBC) on cross-border payments and remittances. On Oct. 16, Malaysian business news outlet The Edge Markets reported that the largest bank in Malaysia, Maybank, will work together w..
News A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction. The transaction was processed using a blockchain and Internet of Things (IoT) platform developed by local trade financing firm iTrust Tr..
News Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transactionEnglish language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packag..
News Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms i..
News The Malaysian Ministry of Education has introduced E-Skrol, an application built on the NEM blockchain to deal with the issue of certificate fraud through the use of blockchain technology. In a Sept. 19 article by local news agency Bernama, the Ministry of Education in Malaysia announced that..
News Money transfer service Xendpay has joined Ripple’s global transaction network RippleNet to support international transactions. Going beyond the U.S. dollarRipple announced the news on Aug. 20. Per the announcement, RippleNet will allow Xendpay to provide money transfer services beyond the Uni..
News Malaysian power utility firm Tenaga Nasional Bhd (TNB) is tightening measures in a bid to stem the millions lost to electricity theft by Bitcoin (BTC) miners. According to an Aug. 15 report from EdgeProp, tampered electricity distribution boards used in local Bitcoin mining operations have co..
Malaysian’s electricity company recently stormed the location of some bitcoin miners suspected to be using electricity illegally. According to a report by the Malay Mail, the electricity utility company suffered a loss of over $760,000 due to the activities of the bitcoin miners. The case of elect..
News Authorities raided Bitcoin (BTC) mining operations in Malaysia after finding that they were stealing electricity resulting in a loss of 3.2 million Malaysian ringgit ($760,736) to the utility company. 33 facilities illegally mining BitcoinMalaysian major electric utility Tenaga Nasional Bhd (..
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