Neurogine rolls out mobile app to address liquidity and financial access issues

Petaling Jaya, Malaysia, September 28, 2021 – Neurogine Sdn Bhd, the operator of an exciting group of techfins providing mobile banking platform, mobile payment platforms, artificial intelligence (AI)-driven money broking platform and more, has released Neurogine nTrade® Mobile for its corporate and retail users to solve liquidity and financial access issues plaguing the industry.

According Neurogine chief executive officer Owen Chen, the Neurogine nTrade® platform is currently experiencing approximately RM2 million per week of transactions. “With the release of a dedicated mobile version of Neurogine nTrade® which offers access anywhere, anytime from any smart device or smartphone, we anticipate both the value and volume of transactions will increase significantly and potentially exceed RM10 million per week,” he said adding Neurogine nTrade® Mobile is now available on Google Play Store and Apple App Store.

”We understand that while the Forex and Securities financial markets are highly established and streamlined, fiat/ digital fiat pairing and transactions are highly fragmented. Furthermore, there are massive price disparities across exchanges, which is caused by existing limitations where every exchange operate in a silo. This effectively limits their offerings and subsequently, rates,” he explained.

A direct route pairing of USD/ETH in Exchange A can have a different value in Exchange B. Subsequently, a multi route, multi pairing approach across multiple exchanges can lead to extremely significant price improvements. Such efforts are resource intensive but a main differentiator in Neurogine nTrade® Mobile lies in its Artificial Intelligence (AI) engine and unique algorithms, which is fully capable to ascertain and mine multiple rates from multiple exchanges at a fraction of a time, then depending on the authority from the user, to lock in those rates or release it.

“It has taken Neurogine two years to refine the platform and about six months to completely develop Neurogine nTrade® Mobile, which is fully engineered and designed by Malaysian talent, unlike others. This is indeed a significant milestone for us and reflect Malaysia’s focus to be an innovation-driven nation,” he said, adding a two-factor authentication (2FA) to verify user identities are used to strengthen access security.

The commercial roll-out of Neurogine nTrade® Mobile has been tasked to Neurogine Capital (L) Ltd, which is fully licensed and regulated by Labuan Financial Services Authority (LFSA) to operate a Labuan Money Broking Business and recently approved to operate a Labuan Payment System Operator (PSO) Business. This offers greater transparency and user protection as two versions are now available.

The corporate version of Neurogine nTrade® Mobile is positioned as a white-label solution for Banks, Financial Institutions and Licensed Money Services Businesses, who can have the application customised and rebranded as their own, with minimal capital expenditure. “We can complete the customised version within three months to help accelerate their digitalisation plans and retain their account holders, while still complying with Know-Your-Customer processes, Customer Due Diligence procedures, anti-money laundering and counter finance terrorism requirements.”

Meanwhile, the retail version of Neurogine nTrade® Mobile is being rolled out to its current users of whom the majority are from USA, UK, Singapore, Cambodia, Thailand and Albania. “We have two new features; micro transactions and price alerts. The first is that the minimal amount for any transaction now starts at USD25 or MYR104. Our micro transactions feature offers a low-risk starter point and responds to numerous requests that we have received. There are no commission or hidden fees and this is very reassuring and attractive to retail users who are beginning their journey in this market. We hope this will contribute towards democratising accessibility to global markets for millions in this region.”

The second is Price Alert. “Users can configure targeted rates for a specific digital asset and receive active alerts when the market reaches the configured targeted rate. The market has been volatile in past months and getting good rates means having to lengthy time monitoring. Many of our users have requested for Price Alert so they can enjoy the rates they seek without having to dedicate so much time to monitoring the markets. This feature gives our users a peace of mind and offers plenty of convenience.”

Neurogine is expanding its direct accessibility from four exchanges to eight exchanges by next March. “The increase in the number of exchanges translates to greater access to a much deeper liquidity pool. We are in the midst of integrating our platform to a fifth exchange and such a direct access will benefit every user on our platform,” he said adding the new exchanges are Huobi, ErisX, Coinbase and BinanceUS. The Neurogine nTrade® platform already has direct access to OKCoin, Liquid, Kraken and Binance since 2019.

“We have also recently introduced the availability of four new digital fiats; ADA, BNB, DOGE and DOT, in addition to BTC, ETH, XRP, LTC and USDT and two fiats; USD and EUR, which cumulatively is the world’s top 10 most attractive across multiple global exchanges. We think it is important and fully support financial innovations and access to new financial services. It moves us closer towards our goal of democratising financial access in this region and in our own way, help ensure a shared digital economy prosperity,” he said.

ADDRESS

Neurogine Capital (L) Ltd
Business Suite 1620, Level 16 (A), Main Office Tower, Labuan Financial Park Complex, Jalan Merdeka, 87000 FT Labuan, Malaysia.

www.ntrade.com.my

ABOUT US

Neurogine Sdn Bhd operates an exciting group of techfins and develops technology for mobile banking, mobile payment, money broking and more to Banks, Financial Institutions, Licensed Money Services Businesses, Corporations and retail users. Neurogine’s flagship technology includes nPay®, a fully integrated mobile payment solution with geo-location conveniences and payment options, nBank®, a full suite of mobile banking platform, nCard®, a Near Field Communication (NFC) and token service payment technology, nTrade®, an AI-driven, multi-routing, multi-pairing money broking platform and more. The Group includes two Labuan licensed companies operating in the domicile of Labuan International Business and Financial Centre with Labuan Financial Services Authority as the regulator. The two are Neurogine Capital (L) Ltd, a licensed Money Broking business and approved Payment System Operator (PSO) and Neurogine DX (L) Ltd, a licensed credit token operator.

This release was published on openPR.