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BUSINESS

Neurogine Group's n Trade secures first corporate customer in Asia

07/08/2020 03:29 PM

LABUAN, April 1 -- Malaysia-based Neurogine Group’s newly launched investment trading platform, nTrade, has secured its first corporate customer in Asia, reflecting the positive sentiments for its services and technology amidst trying times in the region.

In a statement, the group said nTrade will serve Emas Fintech Inc through Neurogine Capital (L) Ltd, which is licensed by Labuan Financial Services Authority to operate money brokering activities.

Chief executive officer Owen Chen Chee Onn said nTrade specifically answers needs in the region from corporate customers like money brokers, investment managers, fund operators, financial institutions and banks.

He said money brokering services in nTrade starts with four fiat currencies (e.g. USD, EUR, RMB and SGD) and digital currencies (e.g. BTC, ETH, LTC and USDT), while investment trading services make use of nTrade’s Intelligent Order Routing engine to access several Digital Asset Exchanges like Binance, Liquid, Kraken for true price visibility on more than 51,000 pairs, the largest of its kind in the region.

“Every nTrade transaction fulfils regulatory requirements and in compliance with Anti Money Laundering and Counter Finance Terrorism (AML/ CFT) requirements. Everyone accessing nTrade is thoroughly vetted via our stringent on-boarding processes,” he said.

Meanwhile, Emas Fintech chief executive officer Jason Kellady expects the volume of trade to exceed US$100 million using nTrade in the remaining months of 2020.

He said Emas Fintech which is a regional boutique investment fund agency and licensed fund remittance operator in the Philippines is eyeing a trading volume of about US$10 million to US$15 million per month.

The company anticipates trading volumes to start between US$5 million to US$10 million this quarter, and increase two-fold in the second half of 2020 as investors capitalise on market opportunities.

-- BERNAMA


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