World Bank's IFC Invests in Malaysia's Zetrix AI
The World Bank Group's International Finance Corporation (IFC) has invested in Malaysian AI firm Zetrix. The investment aims to improve access to Digital Public Infrastructure (DPI) services in Malaysia and other emerging markets in the ASEAN region.
- Zetrix serves as the international supernode for China's national blockchain, Xinghuo BIF, enabling cross-border business through blockchain-based identifiers (BID) and verifiable credentials (VC) for trade and finance. - The US$40 million equity injection gives the IFC an approximate 2.5% stake in Zetrix, which also plans to list its "AI Foundation Lab" subsidiary on the Nasdaq by the end of 2026. - The company, formerly known as MY E.G. Services Berhad, has been a key provider of e-government services in Malaysia since 2000 and is central to the country's national blockchain platform, the Malaysia Blockchain Infrastructure (MBI). - Specific applications slated for development include the tokenization of real-world assets, digitized international trade services like customs clearance, and the creation of a stablecoin ecosystem. - Zetrix's technology is set to integrate directly with Malaysia's national digital identity system, MyDigital ID, to enhance the security and efficiency of public and private service delivery. - A key focus is on cross-border fraud prevention, with Zetrix offering a service to digitize official Chinese national IDs and business registrations into verifiable credentials for real-time authentication by overseas parties.
