Top Cryptocurrency Companies in Malaysia

The cryptocurrency industry in Malaysia has been experiencing rapid growth in recent years, with key statistics from 2022 indicating a positive outlook for the sector. In this article, we will explore the factors contributing to the industry's growth and success, including government initiatives, and examine the key trends, challenges, and future outlook for the sector.

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CompanyHeadcountContactDescriptionDecision Maker
REVOOBIT SDN -GH23 +60 3-8923 1799
info@revoobit.com

REVOOBIT SDN BHD - a global health & wellness company which provides quality brand and offers comprehensive services. Ambitious and inspired by a group of professionals to meet the challenges in online business marketing with ideas based on a combination of information technology and network marketing.

METAPAC GROUP4 (blank)
event@metapac.io

A visionary and dedicated ASEAN Web3 ecosystem builder, committed to delivering meaningful impact and driving positive change. With a focus on three key verticals, we are dedicated to nurture, influence, and support the founders and builders of Web3 and blockchain-based projects that aim to bring goodness to communities, people, and the world. We believe in the power of technology to create a better future, and our goal is to play a crucial role in fostering the growth of this revolutionary movement. Metapac Venture: Committed to finding & investing in visionary founders & innovative projects that are solving real compelling problems in the Web3 space. Our investment philosophy is centered around three key principles: Founder Fit, Product Fit, and Market Fit. By focusing on these criteria, we aim to identify projects with the potential to not only be profitable, but also have a positive and lasting impact on society. Metapac Market: We believe in the power of technology to create …

CY SOLUTIONS(blank) (blank)
info@cysolutions.co

CY Solutions was founded in 2016 by Calvin Yong, a crypto enthusiast, and an analyzer cum investor of Initial Coin Offering (ICO) and Cryptocurrencies. We pride ourselves on providing outstanding customer service in order to guarantee that all of our clients are 100% satisfied. CY Solutions service course specialize in finding your ideal Initial Coin Offering (ICO) and Cryptocurrencies and treat it as a priority, obligation, and responsibility.

CRYPTO VALLEY MALAYSIA5 +60 14-636 0290
hello@cryptovalley.my

Crypto Valley Malaysia (CVM) is an independent organization located in Cyberjaya, Malaysia. Our mission is to build Asias leading ecosystem for blockchain and cryptographic technologies in Malaysia, leveraging its strategic location in South East Asia, bridging both the Eastern and Western world. Our main focus is in developing and executing a community-driven program targeted at establishing and growing our ecosystem.

XIFU: INVESTING TOGETHER7 +60 3-7735 2288
enquiry@xifu.my

XiFu is a social network for investors, containing proprietary information like live prices, exclusive content, news and market analytics spanning all financial assets including local and foreign equities, metals, cryptocurrencies, real estate, fixed income and currencies.

LAW FIRM OF TEO4 +60 3-7803 1809
contact@lawfirmofteo.com

Law Firm of Teo is a boutique modern advisory law firm, with its core services in Corporate & Commercial, Capital Markets, and Private Wealth. We specialize in corporate and commercial services for technologically advanced clientele, ranging from startups, small and medium enterprises (SMEs), and local and corporations. We are authorized by the Monetary Authority of Singapore to provide trust services in Singapore. Our firm is the trusted partner in emerging technologies in the local and multinational arena ranging from the latest technologies in Artificial Intelligence (AI), Clean Technology (CleanTech), Augmented Reality (AR), Blockchain, Finance Technology (FinTech), and many more. We provide customizable startup services, which includes essential contract drafting, negotiating and reviewing for startups, legal advisory, legal strategy, and support from our established partnership network of technology solution firms, business consultants, investors and corporates from around th…

SPEZA4 +60 3-7490 7707
sales@speza.org

As a license provider for digital asset & cryptocurrency exchanges, we strive to provide a more friendly environment for crypto business owners worldwide, paving the way for exchanges to access the global markets and tap into untouched markets, putting you alongside the top players in the market.

GOBI PARTNERS101 +60 3-2778 6800
marcom@gobi.vc

Gobi Partners is the most interconnected Pan-Asian venture capital firm with US$1.5 billion in assets under management (AUM) across North Asia, South Asia, and ASEAN. Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 15 funds to date, invested in over 320 startups and nurtured 9 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Beijing, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, Shenzhen, Surabaya and Singapore. As a Participant of the United Nations Global Compact, Gobi Partners is committed to aligning strategies and operations with universal principles on human rights, labour, environment and anti-corruption to ensure long-term value creation and sustainability across our portfolio.

CERUS MARKETS7 (blank)
support@cerusmarkets.com

Cerus Markets is a new type of global brokerage providing trading on cryptocurrencies, forex, stocks, and commodities all from one platform accessible from your mobile device or web browser – all without fees. In addition, Cerus Markets is the only firm that allows traders to trade cryptocurrencies versus indices, stocks, and commodities. Established with the goal of removing the fee barriers for users who want to access the markets, traders can take a position on several-digit assets with as little as $50. There are already thousands of traders who have downloaded the Cerus Markets mobile app – are you ready?

MELD64 (blank)
info@meld.com

MELD is a full-suite non-custodial DeFi banking protocol that allows users to securely lend and borrow crypto and fiat currencies and earn yield—all while maintaining custody of crypto assets. Taking the interaction between crypto and traditional currencies to the next level by bringing the most innovative parts of DeFi like smart contracts and leverage and using them to provide access to much-needed finance tools and instant liquidity. MELD hopes to be able to empower financial independence in the DeFi ecosystem by developing self-sovereign, inclusive financial tools. Socials Website - https://meld.com/ GitBook - https://docs.meld.com/ Telegram - https://t.me/+q4WH6OSnlRRjOWMx Twitter - https://twitter.com/MELD_Defi Discord - https://discord.gg/melddefi YouTube - https://www.youtube.com/c/MELD_labs LinkedIn - https://www.linkedin.com/company/meld-defi/ Github - https://github.com/MELD-labs

PENTAS SKOOL2 (blank)
lisa@pentas-skool.io

Pentas Skool is the educational arm of pentas.io which focuses on knowledge and experience sharing, advocacy, and training on blockchain and related issues.

MALAYSIA MICROELECTRONIC SOLUTIONS SDN. BHD. (MY-MS)16 +60 3-7620 8226
sales_info@my-ms.com

My-MS is a fabless semiconductor company that develops and markets high performance semiconductor products. My-MS developed the smart card IC for the Malaysia National ID card (MyKAD) with the highest security with duo dedicated crypto-on-chip integrated into a Flash-based MCU. My-MS has expanded into system integrator role for Journey Risk Management solutions and capable to provide electronic services.

CGCX.IO14 (blank)
support@cgcx.io

The team at CGCX.io has developed this platform to meet the increasing demands from the mainstream traders and investors for a secure and insured exchange. Unlike most exchanges that offer only cryptocurrency trading, CGCX.io offers multiple services, like Crypto Exchange, Token Listing, Merchant Solutions, and Smart Contracts. CGCX has established a strong community of cryptocurrency users, including but not limited to companies, startups, traders, customers, and merchants.

MX GLOBAL19 +60 3-7732 1870
support@mxglobal.com.my

Founded in 2018, MX Global Sdn. Bhd. is a Kuala Lumpur-based fintech company with a mission to create a highly-accessible and secure cryptocurrency trading platform that allows merchants, consumers, and traders to transact cryptocurrencies. MX Global Sdn. Bhd. envisions the MX Global trading platform to be the preferred liquidity platform for cryptocurrency investors and token issuers In light of the demand for cryptocurrencies, MX Global has created a user-friendly platform for users to begin trading in Bitcoin and Ethereum. MX Global does offer end to end solution in storing, buying and selling of cryptocurrencies and MX Globals compliance management system reflects strong integration of cyber-security controls, giving you peace of mind. Aside from that, MX Global has also appointed leading professional advisory and legal firms as external consultants to provide support in the areas of advisory, legal, compliance, business operations and risk management design as to continuously…

ICO APP FACTORY(blank) +60 16-499 8736
admin@icoappfactory.com

Maximum Security. ICO security. As veterans of crypto-exchange software development, we understand the importance of security. Our softwares multi-layered security system provides our exchange partners the strongest protection at all times. That same system is implemented in our ICO crowdfunding infrastructure.

BLOCK ON EVENTS5 +65 9051 5707
info@blockon.biz

Block On a Pioneer of Crypto and Blockchain Events since August 2017, Block On has organized India Blockchain Week, Malaysia Blockchain Week, Thailand Blockchain Week, Global Blockchain Leadership Awards (Globla), and Crypto Currency expo series. Block On Capital is a Singapore Based Blockchain focussed VC firm with having presence in the Gift City India, Thailand, Dubai, and have established a Blockchain Center in Malaysia that promotes a better ecosystem for CryptoCurrency and Blockchain companies by leveraging its network, infrastructure, visibility and, of course, the fuel of funds.

MSC TRUSTGATE.COM SDN BHD28 +60 3-8318 1800
helpdesk@msctrustgate.com

MSC Trustgate.com Sdn Bhd is a licensed Certification Authority (CA) operating within the Multimedia Super Corridor. MSC Trustgate was incorporated in 1999 to meet the growing need for secure open network communications and become the catalyst for the growth of e-commerce, both locally and across the ASEAN region. At present, MSC Trustgate has 12 million in paid up capital. MSC Trustgate.com Sdn Bhd is licensed under the Digital Signature Act 1997 (DSA), a Malaysia law that sets a global precedent for the mandate of a CA. As a CA, Trustgates core business is to provide digital certification services, including digital certificates, cryptographic products, and software development. We are committed to provide the finest Public Key Infrastructure (PKI) to assist all types of companies and institutions conducting their business over the Internet. The state of the art back-end infrastructure that costs RM 14 million is one of the best in the region.

GLT LAW12 +60 17-988 9103
enquiry@gltlaw.my

Who We Are We are a modern, innovative and forward-thinking law firm with a desire to make legal practice relevant to our time. We take great pride in providing prompt, creative and effective solutions for our client. We are a team of lawyers with experience of international and local law practices. We cover a broad range of legal practices including corporate & commercial, dispute resolution and emerging technology. What We Do We seek to provide high quality, commercially practical and innovative legal solutions and integrated advice based on the profound understanding of our clients business. We offer a range of traditional and emerging legal practices combined with forward-looking perspective to find holistic and pragmatic solutions that will benefit our clients.

E-LOCK CORPORATION SDN BHD 199401033309(318992-M)34 +60 3-2166 2982
info@elock.com.my

Under the leadership of Dr. Ken Leong - Founder and Chief Executive Officer, we started out in Malaysia by developing technologies focused on data security and cryptography in the early days of the Internet nearly 21 years ago. Today, our products have expanded from securing businesses and government agencies from web page defacements, data integrity protection to multi-factor authentication for internet banking services and beyond. As IT networks and operations become more complex, having to respond to cyber threats on a daily basis and the increasing need for speed in doing business, we remain focused on developing IT security solutions that are practical but highly reliable. Serving a growing list of more than 800 organizations in Japan, Taiwan, China, Thailand, Indonesia and Malaysia, our solutions are designed and developed to ensure that organizations of all sizes are effectively protected against todays ever-changing threat landscape. We have since established offices in New…

UNICOIN DCX LTD11 +65 9335 4349
info@unicoindcx.com

Unicoin Digital Capital Exchange is a cryptocurrency exchange fully licensed and Regulated by Labuan Financial Services Authority, Malaysia. It brings buyers and sellers together to buy, sell and trade various Cryptocurrencies on its fully electronic automated trading system developed by our software partner, AX1 system. The system based upon blockchain technology allows buyers and sellers to send, receive and trade in our state-of-the-art platform and associated crypto wallet. Unicoin Digital Capital Exchange Strictly following the Anti-Money laundering (AML) and Combating the Financing of Terrorism (CFT) policies.

Top Cryptocurrency Companies in Malaysia

Key Statistics from 2022:

The cryptocurrency industry has witnessed rapid growth in recent years, with total revenue in the sector reaching RM 7.5 billion in 2022. This represents a 22% increase compared to the previous year's revenue of RM 6.1 billion. The industry's contribution to the country's GDP has also increased, with the sector now accounting for 1.2% of Malaysia's total GDP. The industry employed over 10,000 people as of 2022.

Factors Contributing to Growth and Success:

Several factors have contributed to the cryptocurrency industry's growth and success in Malaysia. One of the key drivers of growth has been the government's efforts to promote the industry through various initiatives. For example, the government has established a regulatory framework for cryptocurrency exchanges and other service providers, providing a safe and secure environment for investors.

The government has also implemented policies to encourage the growth of the cryptocurrency industry, providing financial assistance and other incentives to local companies. This has resulted in the establishment of several local companies, which have helped to boost the industry's growth and competitiveness.

Industry Growth and Comparison to Previous Years:

The cryptocurrency industry in Malaysia has been growing rapidly in recent years, with a compound annual growth rate of 28% from 2017 to 2022. The industry can be divided into several segments, including cryptocurrency exchanges, wallet providers, and mining operations. The cryptocurrency exchanges segment is the largest of the segments, accounting for over 60% of total revenue in 2022.

Compared to the previous year, the industry's overall revenue grew by 22% in 2022. The cryptocurrency exchanges segment witnessed the highest growth, with revenue increasing by 24%, while the wallet providers and mining operations segments grew by 18% and 21%, respectively.

Key Trends:

Technological disruptions have been a major trend in the cryptocurrency industry in Malaysia, with many companies adopting blockchain technology to improve their operations and customer engagement. For example, many companies have implemented smart contract solutions, enabling them to automate transactions and improve their efficiency. Others have invested in decentralized finance (DeFi) solutions to provide new financial services to customers.

Another trend in the industry is the growing interest from institutional investors and traditional financial institutions. This trend is being driven by the increasing acceptance of cryptocurrencies as a legitimate asset class, and many companies are responding by offering new services, such as cryptocurrency custody and trading services.

Challenges:

Despite the industry's positive growth and outlook, there are several challenges that could impact its future performance. One of the major challenges is the potential regulatory risks and uncertainties, which could impact the industry's growth and adoption by customers and investors. Additionally, the high volatility of cryptocurrencies could limit their widespread adoption and use in daily transactions.

Another challenge is the potential security risks and threats, such as cyber attacks and hacking, which could impact the safety and security of cryptocurrency transactions.

Future Outlook:

However, the industry's future outlook remains positive, with several factors indicating continued growth and success. The government's continued support for the industry, through initiatives such as the regulatory framework and financial assistance for local companies, is expected to boost the industry's growth and competitiveness.

Furthermore, the growing interest from institutional investors and traditional financial institutions presents an opportunity for the industry to diversify and cater to a wider range of customer needs. This could help to attract new customers and improve the industry's revenue.

Conclusion:

In conclusion, the cryptocurrency industry in Malaysia has been experiencing rapid growth in recent years, with key statistics from 2022 indicating a positive outlook for the sector. Government initiatives, such as the regulatory framework and financial assistance for local companies, have been key drivers of growth and competitiveness in the industry.

Technological disruptions and the growing interest from institutional investors and traditional financial institutions are among the key trends in the industry, presenting opportunities for companies to improve their operations and offer new products and services.

While challenges such as regulatory risks and uncertainties and security threats remain a concern, the industry's future outlook remains positive, with continued support from the government and opportunities for growth and diversification. The cryptocurrency industry is expected to continue to grow in Malaysia, as more people become interested in cryptocurrencies and blockchain technology, and as the industry continues to innovate and develop new solutions to meet customer needs.

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By Melissa Goh
Published on 19 May 2023