Securities Commission: Digital Assets Traded In Malaysia Worth Over RM16 Billion In September 2021 | Money

said digital asset trading in the country has continued to thrive this year, with more than 300,000 new accounts created to date. – Photo by Twitter / SCMalaisie

KUALA LUMPUR, October 26 – Digital assets traded in Malaysia topped RM16 billion in value in September 2021 since its introduction in 2019, said Securities Commission Malaysia (SC) Chairman Datuk Syed Zaid Albar.

He said digital asset trading in the country has continued to thrive this year, with more than 300,000 new accounts created to date.

“Despite market uncertainties, investor participation in alternative and digital platforms remains strong. With nearly 60% of individual investors under the age of 35 and representing more than four-fifths of participating investors, crowdfunding (ECF) and peer-to-peer (P2P) platforms appeal to the masses, ”he added. he declares. in his opening remarks at the 8th Annual Fintech SCxSC Conference, held virtually today.

Syed Zaid said that during the pandemic, the regulator noted encouraging developments where ECF and P2P funding platforms continued to meet and support the funding needs of micro, small and medium enterprises (MSMEs).

There are currently 21 ECF and P2P platforms registered with the SC, which have collectively raised over RM2.2 billion for nearly 4,000 MSMEs since their inception.

Despite an initial decline in fundraising activities due to the movement control order in Q1 2020, the SC said these alternative platforms have helped MSMEs raise more than RM1.3 billion in 2020.

In the first half of 2021 alone, an additional 625 million ringgit was raised through ECF and P2P, an increase of 151% and 220% respectively, compared to the same period in 2020.

ECF and P2P have attracted young investors with almost 60% of participants under the age of 35. – Bernama

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