Ant Group, Chinese tech giant Alibaba’s fintech affiliate, has partnered with Malaysian investment bank Kenanga to launch a wealth management app with features to trade cryptocurrencies.

See related article: Tencent gets patent nod to use blockchain for missing persons’ notices

Fast facts

  • Kenanga Investment Bank Berhad announced on Wednesday that it signed a memorandum of understanding with Ant Group to develop “SuperApp,” which is designed to integrate stock trading, crypto trading, foreign currency exchange and e-wallet features onto a single platform.
  • The investment bank will build the app using Ant Group’s mobile development platform mPaaS.
  • Blockchain technology is a focus of Ant Group’s digital technology unit, which develops projects in the fields of blockchain, privacy computing, security and distributed database.
  • Tencent, Alibaba’s major rival, is also active in blockchain development. It last week received a patent for blockchain-based notices for missing persons.

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