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Malaysia-based MX Global secured an undisclosed equity investment from cryptocurrency exchange, Binance and another Redeemable Convertible Preference Shares (RCPS) investment by digital business solutions provider, Cuscapi according to sources.
The fresh funds raised will allow the fintech company to create more brand awareness, expand their talent, and develop new features within Malaysia’s regulatory framework.
CEO of MX Global, Fadzli Shah mentioned that the cooperation with Binance will provide them an added advantage to compete with other global players in the industry and at the same time, continue building a safe, easy and real digital asset ecosystem for their customers.
“We see potential in Malaysia given its respected and innovative cryptocurrency and blockchain community. We believe that partnering with MX Global will be a springboard to new opportunities, both in Malaysia and the region as a whole," said Changpeng Zhao, founder and CEO of Binance.
The strategic cooperation is a sign for continuous growth and development of the digital assets industry, which will give the cryptocurrency market in Malaysia and Southeast Asia, a massive boost.
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