KUALA LUMPUR, April 22 — HWGG Capital PLC and Labuan-based multinational digital bank, Fintech Bank Ltd (FBL) are collaborating in a financial solution namely a digital bank account that can fully support digital assets settlement in multi-currency under regulatory compliance.
Under the strategic partnership, both entities will prioritise in bringing simplicity and efficiency to every digital asset transaction.
HWGG Capital chief executive officer Mavis Mok said under this synergy, both parties would further leverage the HWGCash App for clients to open both personal or business banking accounts allowing digital asset settlements to proceed directly to their bank accounts.
“We anticipate that the settlement and clearance process of digital asset transactions will be quicker and seamless with FBL bank accounts,” Mok said in a statement today.
HWGG Capital has been offering digital asset management services through its HWGCash App platform, Asia's first mobile application that provides unique financial solutions for digital users.
The HWGCash App serves as a medium connecting both digital and traditional markets, where traditional companies can offer their products and services to digital asset users, which can later be processed into fiat currency for settlement.
It also helps institutional clients and companies simplify buying and selling in the digital asset market.