KUALA LUMPUR (Aug 9): MyEG Providers Bhd’s shares on Bursa Malaysia rose within the early session right this moment after the corporate introduced a plan to introduce decentralised finance (DeFi) product final Friday.
At 9.53am, its share worth was three sen increased at RM1.62, with 1.07 million shares traded.
In a information report, MyEG stated the DeFi service will present cryptocurrency providers to customers of digital asset exchanges which might be licensed as recognised market operators in Malaysia and overseas.
MyEG stated the service will allow holders of cryptocurrencies to enter into sensible contracts for the aim of borrowing cryptocurrencies or lending in opposition to their cryptocurrency belongings.
“As digital belongings change into more and more mainstream and extra widely-used, DeFi providers will enable holders of cryptocurrency belongings to maximise returns on their investments.
“Leveraging a confirmed monetary know-how (fintech) platform, DeFi makes use of blockchain know-how — specifically, cryptocurrencies and sensible contracts — to allow the availability and settlement of transactions akin to borrowing and lending with out the necessity for standard intermediaries,” it stated.
MyEG to bring DeFi services into Malaysia