Artroniq in MOU with Panda Bank

JAYA: Artroniq Bhd’s wholly-owned subsidiary EA Global Integrated Sdn Bhd has entered into a letter of intent to provide services and consultation to Cambodia’s Panda Commercial Bank PLC in the research and development of blockchain financial services.

In a filing with Bursa Malaysia yesterday Artroniq stated the total investment by Panda for the research and development of financial services with blockchain technology is about Us$10mil (Rm46mil).

The investment over a two-year period will include the compiling of documentation and requirement, research and development of smart contracts for blockchain financial services such as assets management, payment, remittance and insurance solutions, consultation services and maintenance services upon product launching.