This cooperation marks the creation of the world’s first physical blockchain bank located in Labuan, Malaysia. The expertise-rich synergy of the successful industry players aims at establishing a blockchain-based investment bank with a dedicated division for handling crypto, the blockchain, and other digital banking-related operations. The parties’ multifunctional landscape allows for dealing with all relevant road hurdles in an effective and timely manner.
It is a bold step of an evolutionary stage that further advances business expansion of the partnering companies.
CGCX.io backs the technical innovation by offering a cryptocurrency exchange platform with a versatile service range for all end participants. The company is based in Singapore [license number UEN 201814950K], and their recently concluded ICO raised $32.5 million. With a current daily trading volume of a $10 million, the company has a solid financial base for the new spiral of development.
According to the CEO of the company, Anandh Swami,
“Unlike most exchanges that offer only cryptocurrency trading, CGCX.io is setting itself apart in the Distributed Ledger Technology field by providing five platforms rolled into one to offer a wide variety of services to its customers.”
Now, the team is striving to build a bridge between traditional and cryptocurrency investment worlds by joining efforts with the companies equally interested in increasing their digital technology capabilities.
Archipelago [Malayan Archipelago] represents an international insurance group, serving the strong backing for crypto-fiat operations and assuring the security of digital technology activities involved.
IBH Capital, which owns IBH Investment Bank, is an investment and asset management company operating with global affiliation in excess of $1 Billion. The company embraces contemporary investment opportunities and deals with the financial fraternity in a new, modern way.
Dato’ Howard Choo, MD of IBH Capital, affirms,
“Today, we do business in a fast-paced marketplace characterized by constant changes. But the more things change, the stronger our commitment in upholding our core approach – building value for our investors by staying true to our client-focused approach; sound and sustainable investment approach through industry expertise and thorough analysis.”
The parties represent three pillars of a safe and reliable operating model that working in unison and have undertaken responsibilities according to their industry of expertise.
CGCX.io is committed to providing blockchain-related technical guidance and support to IBH, including the development, management, and control of the dedicated blockchain-based division within the Investment Bank. This implies the support of all blockchain initiatives of IBH and refining the underlying technology at its original platform.
Furthermore, CGCX.io is expected to create a multifunctional blockchain-based wallet with enhanced security features, endorsing the rebranded bank, and to offer up to $100 million worth of STO. All these will ensure the financial backing for a successful blockchain-based investment bank.
MOU was signed between the parties for the following twelve months, and there is a good chance we’ll see the first results soon. In the meantime, all interested parties can safely join the CGCX.io community and get ready for the benefits of the move.
Interested parties can visit the official website to learn more.