AsiaDB said its digital financing products will incorporate centralised financing services and decentralised financing protocol clusters, combining multiple modules to create a comprehensive digital financing infrastructure. KUALA LUMPUR: The Labuan Financial Services Authority (Labuan FSA) has officially approved and issued the Digital Banking Finance Licence to Asia Digital Bank (AsiaDB) to help shape the new structure of digital finance innovation and economic development in the post-pandemic era. Being the first recipient of the Digital Banking (Investment Bank) licence issued by Labuan FSA, AsiaDB said it will now strive to establish its digital presence in Malaysia while looking outwards to ASEAN countries as well as global economies. In a statement on Friday, chief executive officer Chris Wang said AsiaDB aims to construct a world-leading digital asset trading and self-financing platform, and to promote the transformation of traditional financing into a comprehensive digital finance ecosystem. "We are very optimistic about the future development prospects of the digital economy in Malaysia and the Asean region, especially in the later stage of the pandemic where industries and businesses will be accelerating and eagerly looking for ways to undergo rapid digital transformation, creating a demand surge in digital financing services,,
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