Malaysian pension fund Kumpulan Wang Persaraan (KWAP) is in talks to invest as much as US$15 million in Fasset, a digital asset exchange based in Dubai, according to a report in the Malay Mail daily.
Fasset will also relocate its Asia Pacific headquarters from Jakarta, Indonesia to Kuala Lumpur, and plans to establish a centre of excellence for Islamic digital assets in the Malaysian capital, the report says.
“This collaboration aligns with KWAP’s strategy to support the development of cutting-edge and emerging technologies, while leveraging Malaysia’s solid position as a global Islamic finance hub,” Hazman Hilmi Sallahuddin, chief investment officer of KWAP, is quoted as saying in the May 27 report.
Spokespersons for the pension fund did not immediately respond to questions from Asia Asset Management.
KWAP manages retirement savings of civil servants, with 185.6 billion ringgit ($43.85 billion) of assets under management as of end-2024.
