KUALA LUMPUR, Feb. 26 (Xinhua) -- The World Bank Group, through its private sector arm, the International Finance Corporation (IFC), has announced an equity investment of 155.6 million ringgit (40 million U.S. dollars) in Malaysia-based blockchain firm Zetrix AI Berhad (Zetrix AI).
The duo said in a statement on Wednesday that the investment will support the development and rollout of new blockchain-based Digital Public Infrastructure (DPI) applications and artificial intelligence (AI)-enabled products aimed at improving digital inclusion, access to services, and economic efficiency in Malaysia and the broader ASEAN region.
In Malaysia, these new services would integrate with the country's digital ecosystem through MyDigital ID, the country's digital identity system, and the Malaysia Blockchain Infrastructure, the country's national blockchain service network.
The investment will also support Zetrix AI's expansion of its DPI services into emerging markets in ASEAN and the world.
"Investments like this allow us to scale innovative digital solutions and support the creation of resilient, secure and interoperable systems that expand access to services and opportunities for both people and businesses in Malaysia and emerging markets in the broader ASEAN region and beyond," said Judith Green, World Bank Group country manager for Malaysia. ■