Asia Digital Bank launches its e-wallet
By Digital News Asia March 21, 2022
- E-wallet currently supports five currencies including stablecoins
- Provides integrated exchange of both fiat and digital currencies
Asia Digital Bank Ltd (AsiaDB) has announced the launch of its A-Bank Super Wallet.
In a statement, the Labuan-based bank said its A-Bank Super Wallet app is an e-wallet that integrates traditional financial services with digital financial services.
It also reaffirms its commitment to providing efficient, affordable, compliant, safe and convenient financial innovations and services for both individuals and corporate users.
Liu Xuming, chairman of AsiaDB, said “This is our first mobile application, and it provides efficient cross-border payment solutions for cross-border trade in goods and services as well as fast remittances.
“It is also the first e-wallet to achieve the integrated exchange of both fiat and digital currencies,” he said.
The A-Bank Super Wallet utilises the concept of blockchain peer-to-peer transactions, distributed ledger and storage system, encryption algorithm and consensus protocols to provide fast and efficient payment solutions and express transfer for cross-border trade and services, it said.
It claimed to be the first e-wallet to provide the exchange function between fiat currency and digital currency which gives its users full control of all their assets on the e-wallet. Its core function allows for onshore and offshore deposits, withdrawals and exchanges between physical currencies as well as digital currencies.
The app is backed by state-of-the-art technology that encrypts users’ information for ultimate privacy, the bank said.
In its first phase of operation, the A-Bank Super Wallet supports five currencies, which include Malaysian Ringgit, Singapore dollar, US dollar, offshore Renminbi, and Hong Kong dollar, as well as stablecoins such as USDT and USDC.
More fiat and digital currencies will be added in the second phase, providing more choices to users, AsiaDB said.
According to the bank, users have the flexibility to choose to complete transactions offline or online, such as top-ups and withdrawals, through bank transfer, wire transfer, VISA, MasterCard, JCB, UnionPay International, PayPal, Alipay Global, WeChat Global and more.
“As a digital financial institution, we are constantly innovating and searching for new and better ways to provide financial service. With the launching of the A-Bank Super Wallet, we have achieved yet another milestone in providing improved financial services,” Liu said.
“Built upon our world-leading, digital self-financing technology platform that ensures high security, liquidity, transparency and openness with low risks, the A-Bank Super Wallet is the ultimate choice for users’ financial transactions,” he said.
The A-Bank Super Wallet will commence from Asean and the Greater China region, with the aspiration to provide financial partners around the world with exchange clearing and settlement services from Malaysia’s Labuan International Business and Financial Centre (Labuan IBFC).
As a bank that hails from China that is approved and licensed by Labuan Financial Services Authority of Malaysia, Asia Digital Bank has deep roots in China as well as holds offshore financial licenses with global institutional partners.
“Our unique license and standing provide us with significant advantages and flexibility over traditional banks, all while ensuring that the A-Bank Super Wallet has access to various countries and remains compliant with all the regulatory requirements,” said Liu.
At present, users can download the A-Bank Super Wallet app on Android (Android 5.0 and above). For more information about the A-Bank Super Wallet or to download the app, please visit the official website.
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