Dear All

The only constant in life is change, and of late the most consistent change is the unyielding momentum towards all things digital. Being a progressive jurisdiction, mindful of such changes, we are delighted to recently welcome to the #labuandigitalfamily Singapore-based insurtech firm Axinan, and the Malaysian blockchain firm, HWGG Capital PLC’s HwgPay Blockchain Ecosystem.

Of course, the allowance from Labuan FSA for China Construction Bank to provide digital banking services via its Labuan IBFC branch is also a game changer and is evidence that there is merit to consider a jurisdiction like Labuan IBFC where our Regulatory approach hinges​ on understanding the licensee’s overarching business plan.

Already home to more than 20 fintech-related entities, we look forward to further enhancing our digital ecosystem especially via the possibility of setting up the Labuan Fintech Association. If you are interested in participating as a founding member, please email me at farah@libfc.com

We are also excited to be in Singapore for TechXLR8 Asia, essentially a festival representing the array of technologies driving the digital revolution – AI, 5G, blockchain and IOT. The energy is palpable, and I can confirm: contagious! Enjoy this edition!