Malaysia-listed digital services firm MY E.G. Services Berhad (MYEG) announced a strategic collaboration with MyDigital ID Solutions Sdn Bhd (MYIDSSB) to develop a blockchain-powered national digital identity platform, the MyDigital ID Superapp, aimed at combating online fraud and enhancing digital integration.
The partnership, formalized through MYEG’s subsidiary MYEG Alternative Payment Services Sdn Bhd, seeks to establish a secure and scalable ecosystem for digital identity management in Malaysia, the companies said in a joint statement on Friday.
Built on the Malaysia Blockchain Infrastructure under the National R&D agency MIMOS, the MyDigital ID Superapp integrates digital identity management with commercial services, offering tools such as e-wallet functionality, news broadcasting, and open innovation support for service providers.
The initiative aligns with regional calls for interoperable digital standards, particularly at China-ASEAN ministerial meetings, to strengthen security and counter fraud.
MYEG’s Layer 1 blockchain network, Zetrix, will underpin the project, enabling the integration of MyDigital ID with global digital ID systems, including those used in China and the World ID network.
Businesses can integrate the Superapp for direct logins or miniapps, streamlining user authentication and reducing operational complexities.
“The Superapp prioritizes data privacy, with no personal data stored or accessed by the platform during transactions,” the statement added.
The collaboration comes amid rising financial losses from scams, with Malaysia’s State of Scam Report 2024 reporting MYR54.02 billion ($12.8 billion) in losses last year. Across Southeast Asia, cyber fraud cost up to $37 billion in 2023, driven by AI-enabled crimes.
“This partnership represents a significant step toward a future-ready digital identity ecosystem,” said Zetrix co-founder Fadzli Shah.
The MyDigital ID Superapp’s proof of concept is expected by Q1 2025, underscoring scalability and cross-border interoperability.