MYEG'S ZETRIX TO ROLL OUT CROSS-BORDER TRADE CONNECTIVITY TO CHINA IN 3Q

KUALA LUMPUR, May 29 (Bernama) -- MY E.G. Services Bhd’s (MYEG) layer-1 public blockchain infrastructure Zetrix is expected to roll out its cross-border trade connectivity to China’s blockchain platform within the third quarter (3Q) this year. 

Zetrix senior advisor Datuk Fadzli Shah said the platform completed the deployment of the international supernode for China’s national blockchain Xinghuo two weeks ago. 

He said Zetrix is now the international supernode that is part of Xinghuo Blockchain Infra and Facilities (BIF) chain, which allows the platform to serve global businesses in a cross-chain interface.

"Currently, we are in a phase where we run all the native Chinese applications on the international supernode to make sure it is stable,” Fadzli said in a media briefing today. 

"Our integration with customs on both sides are ongoing with the Chinese customs fully integrated into our system while on the Malaysian side, we are working through some of the integration process," he said.

On March 30, the digital services provider announced a partnership agreement with China Customs’ wholly-owned agency, East Logistic-Link Co Ltd to jointly provide a full suite of cross-border trade facilitation services that include certificates of origin on the Zetrix blockchain platform. 

It said the partnership would cover international exports entering China and exporters worldwide will now be able to register to use the service known as Ztrade at Zetrix.com  and enjoy the benefits of faster and more convenient clearance processing.

Fadzli also noted that Zetrix now has a total of 374,255 registered accounts since its launch into services in May 2021.

-- BERNAMA