By Jailani Hasan
LABUAN, June 1 (Bernama) — Labuan-based Tijarah Holding Ltd. is rapidly becoming a leading force in Malaysia’s digital transformation, leveraging blockchain to empower individuals, enterprises, and governments.
In a statement to Bernama today, Tijarah Holdings chief executive officer John Pellegrini said as an Islamic digital asset service provider, Tijarah has played a pivotal role in the recent launch of the Labuan Blockchain Hub initiative.
The initative was announced by Prime Minister Datuk Seri Anwar Ibrahim at the Global Forum on Islamic Economy and Finance (GFIEF) on May 28.
“This initiative not only aims to establish Labuan as a leading Islamic Digital Asset Centre but also serves as a cornerstone for Islamic fintech and blockchain development in Malaysia, significantly advancing the goals of the Malaysia Digital Economy Blueprint.
“Tijarah is committed to nurturing blockchain talent through collaborations with institutions like Universiti Malaysia Sabah (UMS) and Warnborough College Ireland,” he said.
Central to Tijarah’s innovation is the Maal Blockchain, designed to meet Maqasid Al Shariah principles, said Pellegrini.
He added that that the platform enhances security, transparency, and compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, and supports Labuan’s e-residency programme.
Tijarah holds several key licenses, including Virtual Asset Exchange and Wallet Operator licenses from Lithuania; Trust and Custody Management license from Sweden; and Money Services Business License from Canada.
Pellegrini said these licenses enable Tijarah to offer secure trading, custody management, and payment services across digital and traditional assets.
Tijarah is also forming a consortium to foster collaboration among key stakeholders and ensure the long-term success of the Labuan Blockchain Hub.
With a market capitalisation of US$210 million (US$1=RM4.70) and a fully diluted valuation of US$1 billion, Pellegrini said Tijarah’s diverse portfolio includes centralised and decentralised exchanges, an online learning academy, the RAMZ utility token, stable tokens, and the world’s first gold-backed non-fungible token (NFT).
“The company’s efforts in promoting Malaysia’s digital initiatives internationally, such as sponsoring the 9th European Blockchain Convention, underscore its commitment to global digital asset market leadership,” he said.
–BERNAMA
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