These collaborations aim to accelerate Malaysia’s digital economy through next-generation infrastructure and financial inclusion initiatives, marking a significant step forward in the country’s digital transformation journey.

Futu Holdings Limited announces its expansion into Malaysia with its super investment platform, moomoo, introducing a comprehensive suite of tech-driven offerings to promote financial inclusion.

The FINNIX mobile app, which is regulated by the Bank of Thailand, was developed by MONIX and offers microfinance loans through a completely digital process from loan application to approval and disbursement.

The investment aims to support a resilient recovery by promoting business growth, creating jobs, and fostering financial inclusion.

Ongoing shifts toward e-commerce, digital payments (including contactless), and instant payments have all been significantly boosted during the pandemic with real-time payments surging by 104 percent.

The Bank of Thailand has been asked to review the ceiling of interest rates and supervise credit cards, personal loans and car loans, as the Thai government has vowed to tackle high household debt, incurred by credit card and personal loans.

Notwithstanding border restrictions, the region’s digital payments ecosystem is growing as countries collaborate to connect their domestic payment systems.

These findings were from a survey to better understand how the COVID-19 pandemic has affected the remittance habits of those living in Malaysia.

The P2P operator provides shariah-compliant and conventional financing from RM1,000 to RM50,000 ( about $233.69 to $1168.43) to microenterprises.