According to VentureCap Insights statistics, MX Global, which operates a legal digital asset market in Malaysia, has funded US $1.6 million.
Binance, a cryptocurrency exchange, and Hachiman Technology, which is purportedly the parent company of MX Global, took the lead in the round.
As was previously reported, publicly-traded company Cuscapi joined Binance in making an unknown amount of investment in MX Global in March. In addition to the equity commitment, Binance also transferred technology and talent to MX Global.
Binance will collaborate with Malaysian cryptocurrency exchanges to extend its services there, according to CEO Changpeng Zhao, who made the announcement in June.
This came after the Securities Commission of Malaysia issued a cease-and-desist order against Zhao and Binance in July 2021 because the business was operating illegally.
