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Gbrick Group Establishes Messenger Business Entity with Malaysia's KMT
Reignites business to build intelligent integrated messenger based on blockchain technology
Established KMT TRANS, a joint venture between Malaysia's KMT Jaya and Korea's Zebrick Co.
To form a bilateral technology consortium between Korea and Malaysia with the goal of launching the service in 2024
Spurring the development of private and public lifestyle messengers based on blockchain technology
Gbrick Foundation and Zebrick Inc. announced on July 12 that they have completed the establishment of a local corporation, KMT TRANS, in Kuala Lumpur, Malaysia, to build a Malaysian messenger and distribute an AI-based automatic investment system for digital assets.
The establishment of the corporation was led by Mr. Lee Ma Tae-oh, who heads KMT, a leading distribution and logistics company in Malaysia, and Ms. Lee Hye-jin, Chairperson of the Zebrick Foundation, participated as a director in charge of the digital business.
Going forward, CMT Trans will equip Malaysia's national messenger (tentatively named 'JAYA') with various lifestyle services for the convenience of Malaysians, but will also build public decrees, taxes, emergency notification services, etc. to strengthen communication between the government and the public.
In Malaysia, like other Southeast Asian countries, apps such as Grab, WhatsApp, and Wechat are commonly used as lifestyle apps, but there has been a problematic perception in Malaysia and abroad that point out their limitations due to the lack of mobile chat between users and linkages to public convenience services from the government and local governments.
In response, Korea's Zeebrick Group and Malaysia's KMT will primarily promote the localization of lifestyle messengers and payment systems such as KakaoTalk and Naver Pay in Korea, centered on KMT Trans.
In addition, considering the linkage with the local administrative information operation system in Malaysia, the core business goal is to develop and build various lifestyle convenience services in the private sector and equip mobile administrative support services in the public sector such as government and local governments.
To this end, Zebrick will actively introduce blockchain security, digital asset operating systems, and payment settlement systems possessed by its partners through the formation of a consortium in Korea, while CMT Malaysia will lead the understanding and participation of the public sector and local companies centered on a new business entity.
"Since 2020, the leaders of Zebrick and KMT have been in close communication regarding this project, discussing ways to collaborate, introduce technology, and build out the project in both countries," said Datuk Ibrahim Saad, former Malaysian Prime Minister, who first proposed the Malaysian National Messenger project. "Now that the prolonged COVID-19 pandemic is completely over, we expect to see more concrete and practical project implementation."
"Currently, global lifestyle apps such as Grab and WhatsApp generate $2.5 billion and $350 million in transaction value and net revenue in Malaysia, respectively," said Suzairi Abdul Rahman, CEO of ipinfrastructure, a member of the Malaysian technology consortium. "With 70% penetration and 50% market share among the 34 million Malaysians, we expect the new messenger to generate $2 billion in annual transaction value and $280 million in net revenue within two years of launch.
Gbrick has already launched beta services for its customized chat apps tiis and Crecker for local users in Malaysia in 2020, and has been validated by the Malaysian government and local companies to scale to the country's national messenger.
"The upcoming Malaysian National Messenger will be a beta version of the existing messenger with chat app features, lifestyle convenience menu expansion, financial features such as savings and investment, and digital asset management features," said Hyejin Lee, Chairman of Zebrick. "We will actively engage in technology and service collaboration between Korea and Malaysia to launch the first service in the second half of 2024."
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