KUALA LUMPUR: Country Heights Holdings Bhd’s founder Tan Sri Lee Kim Yew has established blockchain-based Golden Horse Investment Bank to ensure that Malaysia can ride on China’s economic trend and act as a convergent point between China and Western countries.
Lee said China had gone through 40 years of reform and opening up and had transformed from a “Just Made In China” to “smart manufacturing in China”.
He said the country had also done a good job in the prevention and control of the recent Covid-19 pandemic.
“This shows that the China’s people-oriented socialist economic route is successful. China’s renminbi is moving towards digitalisation and it is foreseen that the digital renminbi will become the mainstream currency in the future. With this in mind, we established the Golden Horse Investment Bank,” he said in a statement today.
He said Golden Horse would create a more forward-looking change in the financial system allowing people to move from the traditional world of fiat money to the world of cryptocurrency.
“Through the Golden Horse blockchain technology, it can provide unprecedented liquidity for assets such as cash, stocks, property and antique collections.
“Therefore, blockchain technology is not only to provide solid digital currency, but also to chain and connect various industries to form a more efficient, transparent and equitable trading market that can propel the market economy towards a mature capitalism,” he added.
Golden Horse is registered in Labuan International Business Finance Centre and has been granted an investment banking licence by Labuan Financial Services Authority.
[Source: New Straits Times (July 1, 2021) https://www.nst.com.my/business/2021/07/704114/country-heights-founder-set-blockchain-based-investment-bank-leverage-chinas]