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MYEG & MyDigital ID Solutions establish Digital Identity Ecosystem in Malaysia

By Gloria Mathias

January 31, 2025

  • Digital Identity
  • Financial Crime
  • Financial Technology
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MYEG, Digital Identity, Fintech News, FInTech Solutions, Financial Technology, Malaysia, Financial CrimeMalaysia’s digital services company, MY, E.G. Services Berhad (MYEG), has announced a collaboration with MyDigital ID Solutions Sdn Bhd (MYIDSSB) to establish the MyDigital ID Superapp, a blockchain-powered national digital identity ecosystem. This marks a significant advancement in the battle against online fraud.

This partnership between MYEG’s wholly owned subsidiary, MYEG Alternative Payment Services Sdn Bhd, and MYIDSSB highlights both organisations’ commitment to driving technological innovation and enhancing Malaysia’s digital ecosystem.

The MyDigital ID Superapp will provide a seamless, secure, and scalable solution for integrating digital identity management for commercial service providers. Built on the Malaysia Blockchain Infrastructure—a national initiative under the National Research & Development Agency, MIMOS—the platform offers a comprehensive suite of tools, including an eWallet, news broadcasting, and an open innovation software development environment for businesses and service providers to leverage MyDigital ID.

More importantly, this initiative is timely. It comes amid increasing calls by thought leaders and policymakers at various China-ASEAN ministerial events for the establishment of interoperable digital standards and blockchain-based identity verification systems to safeguard online security and combat fraud.

MYEG’s expertise in electronic payment solutions complements MYIDSSB’s specialisation in cybersecurity, authentication, and certification. Together, this collaboration ensures a secure and user-friendly system that prioritises both data protection and business flexibility, meeting the evolving needs of Malaysia’s digital economy.

This collaboration, which combines the latest innovations in blockchain and artificial intelligence with Malaysia’s National Digital ID initiative, intends to extend interoperability and the protections afforded to users across Malaysia’s economy and cross-border transactions.

Zetrix co-founder Dato’ Fadzli Shah stated, “MYEG’s collaboration with MyDigital ID Solutions marks an important step forward in enhancing Malaysia’s digital landscape and meeting the need for interoperable national digital IDs. This platform will simplify access to digital services while maintaining the highest standards of data security and user privacy. At the same time, it will enable businesses to unlock new opportunities and streamline their operations in the digital age.”

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