'Innovative Digital Business' in Labuan Leaves Its Mark Across Asia
Labuan International Business and Financial Centre (Labuan IBFC) is at the forefront of championing the Digital Revolution. Through its Innovative Financial Services (IFS), encompassing digital or fintech financial services, Labuan IBFC continually expands its "digital toolbox" to meet customer needs and the rapidly evolving industry demands.
This digital toolbox includes licenses for money broking, credit token, fund management, and securities, providing a regulatory framework for digital businesses. These licenses enable the seamless operation of digital ventures, ensuring compliance with regulations while fostering innovation in the financial sector.
The licenses can be combined strategically to meet the operational goals of potential digital license holders. For example, integrating a digital currency trading platform with a digital token/asset issuance license not only allows for token creation but also facilitates the establishment of a cryptocurrency exchange platform for trading these tokens. Alternatively, one can digitalise traditional banking activities by obtaining a digital bank license. With numerous options for customization, businesses can create their ideal digital ventures.
In essence, this toolbox streamlines the establishment of blockchain, cryptocurrency, and fintech-related entities, encompassing a wide spectrum of financial services such as digital banking and insurtech, as well as digital intermediaries like digital asset exchanges, cryptocurrency trading platforms, blockchain tokens, e-payment systems, STOs, and robo-advisory services.