LABUAN, July 12 — Japan-based financial technology (fintech) firm, KJ Group has expanded its business operation to the Labuan International Business and Financial Centre (IBFC) with the opening of its new office here today.

Its director cum principal officer Kim Ki Ju said that the company’s expansion was driven by its confidence in the Labuan Financial Services Authority’s (Labuan FSA) commitment as the IBFC’s regulator to support innovative digital businesses.

He said the regulator has shown full commitment in its support towards digital finance-related businesses such as blockchain tokens, electronic payment systems and insurance technology which are set to play a big role in the global financial ecosystem in the future.

"From our part, our goal is to provide transparent investment opportunities to investors, enabling them to achieve a more stable return on investment through the utilisation of artificial intelligence technology and smart contracts within the group, leveraging blockchain technology,” he said during the event.

Kim said that the group is a licensed fintech firm by the Labuan FSA as a fund manager as well as an investment holding and asset management company to conduct money broking and credit token business activities.

It also aims to establish a tailored financial infrastructure system to cater to the needs of individual and corporate customers, he said.

"As we have been licensed by the Labuan FSA, we will provide creative digital financial services including smart contracts and blockchain technology that will serve as effective preventive measures against money laundering, terrorist financing, and cyber threats in the future.

"We are determined to expand our business not only in Labuan but also in other financial markets in Asean,” he added. — Bernama