In 2019, we began Fintech Information Malaysia with a easy function — to assist shine the highlight on deserving fintech startups in Malaysia.
In step with that, we put up our Fintech Malaysia file on an annual foundation to offer any individual who is to determine extra in regards to the fintech scene in Malaysia with a definitive information.
Time certain does fly, nearly with out realising it, we’re now publishing the third version of our Fintech Malaysia file. This time round, we’re lucky to obtain the improve of our beneficiant sponsors like Contact ‘n Cross eWallet, GHL, DAX Ventures, MoneyMatch, Jirnexu and pitchIN in serving to us produce the file.
The sponsorship does no longer impact our editorial course, nevertheless it does permit us to spend extra time to deep dive into our analysis and supply our readers with extra helpful knowledge and insights.
Very similar to ourand this yr’s “Contact ‘N Cross eWallet Malaysia Fintech Report” displays that bills stay the dominant phase inside Malaysia’s fintech ecosystem. E-wallets are coming in as shut 2d even supposing a number of e-wallets like vcash and Payfy discontinuing their services and products.
The verticals inside Malaysia’s fintech scene that observed probably the most casualties are throughout the crypto and fiscal aggregator house.
In early 2019, there have been, in efforts to carry extra order the marketplace Securities Fee Malaysia issued a framework for crypto exchanges in Malaysia. In consequence, there at the moment are most effective 3 crypto exchanges working in Malaysia, with Luno being the .
At the monetary aggregator entrance, we’re staring at that many international gamers suffering to make headway in Malaysia with the likes of Bbaazar, GoBear, CoverGo, Qompanion last their current operations or scaling again in Malaysia.
Each the collection of crowdfunding and lending gamers have long gone up with Securities Feefor fairness crowdfunding and P2P lending.
Knowledge from Financial institution Negara Malaysia displays that cell banking transaction worth has grown seven instances up to now five years while e-money’s transaction worth has grown greater than double in the similar length. This means that Malaysian are increasingly more changing into extra happy with the use of cell monetary services and products.
Despite the fact that Malaysia has made nice strides in our cashless push, for now, money is nonetheless king with ATM withdrawals accounting for RM411.8 Billion of transaction worth in Malaysia.
Within the “Contact ‘n Cross eWallet Malaysia Fintech Report 2019” we’ve got compiled many extra fascinating units of knowledge that might turn out helpful for individuals who are willing to be informed extra about fintech in Malaysia. Those come with stats on e-wallets, P2P lending, fairness crowdfunding, and lots of extra.
The whole file may also be downloaded.
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