Malaysia & Singapore Boost ASEAN Digital Connectivity with Blockchain Trade Deal
Malaysia and Singapore have joined forces to boost digital connectivity within the ASEAN region. The partnership, aligning with the ASEAN Digital Economy Framework Agreement (DEFA), promotes the mutual recognition of Digital IDs and electronic documents across borders.
MYEG and SGTraDex have signed a Memorandum of Understanding (MoU) to enable seamless, blockchain-powered connectivity between the two countries. MYEG's Zetrix blockchain will be integrated with SGTraDex's TradeTrust platforms, facilitating immutable and traceable data exchange. This initiative aims to foster greater transparency and security in cross-border connectivity, setting a new benchmark for digital connectivity within the ASEAN region.
The strategic alliance reinforces ASEAN's vision as a digitally interconnected economic bloc. It also serves as a launchpad for wider regional integration, including with China and GCC countries.
The partnership between MYEG and SGTraDex is expected to enhance cross-border connectivity, promoting economic growth and regional integration. By leveraging blockchain technology, the alliance sets a precedent for secure and transparent digital connectivity within the ASEAN region and beyond.
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