Zetrix, the layer-1 public blockchain infrastructure developed by MY EG Services Bhd (MyEG), is preparing to launch its cross-border trade facilitation services in collaboration with a Chinese blockchain platform in the third quarter of this year.
The international deployment of the Zetrix supernode to China’s national blockchain, Xinghuo, was recently completed. The team is currently testing the stability of the system by running native Chinese applications on the international supernode. Chinese customs and Malaysian counterparts are already integrated into the system, and the team is working on further integrations.
The decision on whether to proceed with a full production version of the service or maintain it as a pilot will be made later. Data privacy and compliance with the Personal Data Protection Act are important considerations, and the team is working with authorities to address these concerns.
MY EG Services previously formed a joint venture with East Logistic-Link Co Ltd to offer comprehensive cross-border trade facilitation services.
30 May 2023
