MIMOS Berhad and digital services provider MyEG have launched the Malaysia Blockchain Infrastructure (MBI) to boost digital services and support the National Blockchain Roadmap.

MBI is a centralized platform for digital assets like MyDigitalID, non-fungible tokens (NFTs), and decentralized finance (DeFi) applications, built to simplify blockchain access for everyday users.

Industry partners such as Masverse, Cokeeps, iTrace, and Heitech Padu are implementing MBI solutions in areas including supply chain traceability, digital identity, and asset tokenization.

The MBI combines MyEG’s Zetrix technology with other blockchain networks like Ethereum and Solana, facilitating cross-platform transactions.

MIMOS Acting President, Dr. Saat Shukri Embong, said MBI will help Malaysia lead in blockchain while ensuring public access and transaction security.

The initiative emphasizes public-private cooperation in building a strong and inclusive blockchain ecosystem in Malaysia.

🔗 Source: Mimos Berhad

🧠 Food for thought

1️⃣ Malaysia’s progressive regulatory approach follows years of foundational work

The Malaysia Blockchain Infrastructure (MBI) represents the culmination of years of progressive blockchain regulatory development that began well before this announcement.

As early as 2018, Malaysia’s Securities Commission pioneered blockchain adoption through Project Castor, which utilized Ethereum-based technology to enhance transparency and efficiency in Over-the-Counter markets 1.

This regulatory groundwork positioned Malaysia ahead of some regional neighbors, with the Securities Commission establishing a comprehensive licensing framework for digital asset exchanges and token fundraising 2.

The MBI’s focus on streamlining digital assets like MyDigitalID credentials, NFTs, and DeFi applications builds directly upon this regulatory foundation, demonstrating Malaysia’s evolutionary approach to blockchain implementation.

2️⃣ Real-world blockchain applications show significant efficiency gains for Malaysian businesses

The MBI initiative addresses practical business needs that have already shown measurable benefits in Malaysia’s economy.

In 2018, HSBC executed Malaysia’s first blockchain letter-of-credit transaction for Simply Packaging, reducing administrative processing time from 5-10 days to just 24 hours 3.