KUALA LUMPUR, May 26 — Asia Digital Bank Ltd (ADB), a wholly-owned subsidiary of Chinese state-owned Asia Pacific Investment Bank (APIB), is striving to become the world’s leading digital asset operator.

Chief executive officer Chris Wang said this could be achieved through the development of an inclusive financial service platform for digital asset transactions, with advance digital financial technology as its core.

He said ADB will continue to play its part in contributing towards the development of communities’ well-being in both Malaysia and China, as well as for the advancement of the global digital economy.

"ADB will make use of its platform to serve the global market and worldwide clients by providing core services such as cross-border investment and financing capabilities, digital asset management, as well as cross-border structured trade financing,” he said in a statement.

By making use of leading financial technology platforms, he said ADB would construct a self-financing servicing ecosystem with the help of leading financial technologies and spearhead industrial alliances.

Officially launched virtually today, ADB has obtained the first digital banking licence for investment bank from the Labuan Financial Services Authority (LFSA) in November 2020.

Meanwhile, LFSA deputy director-general Datuk Iskandar Mohd Nuli said the official launch of ADB would spark a new vitality towards the innovation of Malaysia’s digital finance industry.

He noted that LFSA has been striving to promote Labuan to become a competitive and high value-added global financial service hub.

He also hopes that there would be more financial institutions like ADB to participate in the development of a financial hub in Labuan, as well as in Malaysia. — Bernama