Thursday, 10 Dec 2020 06:02 PM MYT
This segment has grown significantly in the last four years, in tandem with its aspirations to have the market embrace digitalisation as the future of conducting business. “Many organisations have had to digitally transform their operations to meet customer expectations and needs,” he said at the second Connecting Digital Ecosystems Asia virtual conference held today.
The jurisdiction has approved a total of 46 digital financial services operators as at June 30, 2020 including three digital banks, two digital securities exchanges and 19 crypto trading platform providers. Mah said it was imperative for Labuan FSA — being the regulator and administrator of the jurisdiction — to ensure these businesses are conducted in an orderly and prudent manner and that regulations adhere to global standards.