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KUALA LUMPUR, 12 August, 2025 — FSBM Holdings Berhad ("FSBM" or "the Group") today announced the signing of a Collaboration Agreement with Monochrome Corporation Pty Ltd ("Monochrome"), an Australian financial services group specialising in digital asset infrastructure. The partnership seeks to explore collaboration on new business models and opportunities, particularly in areas aligned with Web 3.0, blockchain platform services, and digital asset infrastructure development.
The collaboration will be undertaken via FSBM’s wholly owned subsidiary, FSBM I- Command Sdn Bhd (“FSBM I-COMMAND”), which will serve as the technology solutions partner. Monochrome will provide consulting services related to regulated digital asset investment structures, exchange-traded fund (ETF) operations, and technology enablement for financial services.
Monochrome is the investment manager of the world’s first and only two-way in-kind ETF to hold Bitcoin directly, led by a team with deep experience across both traditional finance and the crypto industry. As of today, Monochrome’s assets under management amounts to approximately AUD$180 million (approximately RM 497 million). The Monochrome team is headed by CEO Jeff Yew, former CEO and co-founder of Binance Australia. Together, the companies will establish a strategic framework to support regional innovation, scalability, and digital asset advancement.
This partnership comes at a pivotal moment for Malaysia's blockchain ecosystem, following the Ministry of Digital's strong endorsement of blockchain technology at the Malaysia Blockchain Week 2025 (MYBW) in July 2025. The Minister of Digital emphasized Malaysia's commitment to becoming "ASEAN's blockchain powerhouse" through trusted, well-governed innovation.
Supporting this trajectory, a recent report states that Malaysia’s tokenised asset market could reach USD 43 billion (RM181.78 billion) by 2030. The report further highlights asset tokenisation as a transformative force in financial markets, stating it represents "a deeper reform" that will "reshape how assets are issued, traded and governed" in Malaysia's financial markets.
"FSBM is positioning itself as a regional leader in technology solutions," said CK Cheong, Deputy Executive Chairman of FSBM. "This collaboration represents not only a strategic milestone in our blockchain and digital systems road map but also a key contribution to Malaysia’s next-generation digital infrastructure. Together with Monochrome, we aim to develop an AI-driven, cross-chain compatible block chain infrastructure platform to strengthen Malaysia's position in the blockchain ecosystem."
Jeff Yew, the Chief Executive Officer of Monochrome emphasized: "Malaysia represents one of Southeast Asia's most promising digital financial markets. Leveraging Monochrome’s expertise in operating the world's first and only two-way in-kind ETF that directly holds Bitcoin, we look forward to combining our digital asset management expertise with FSBM's local market knowledge to jointly advance practical applications of asset tokenization technology across the region."
The Group remains steadfast in its mission to provide scalable, regulation-ready technology platforms that empower enterprise digital transformation across the region. By uniting FSBM’s deep technical expertise with Monochrome’s regulatory acumen, the partnership is poised to accelerate growth and expansion across Southeast Asia. As of mid-2025, FSBM has formed strategic alliances with six tech companies from China, Taiwan, Singapore, and Malaysia, collaborating on initiatives in intelligent systems development, platform implementation, and integrated data solutions.
About FSBM Holdings Berhad
FSBM Holdings Berhad (“FSBM”, 9377) was incorporated in 1984 and was subsequently listed on Bursa Securities (then known as the Second Board of the Kuala Lumpur Stock Exchange) in 1994.
FSBM is now focusing on developing its IT services segment. The range of services the Company offering are Intelligent Application & Digital Solutions, Managed Security Services and Smart Manufacturing Solutions.
For more information, please visit: https://fsbm.com.my/
About Monochrome Corporation Pty Ltd
Monochrome is an Australia-based financial services group specialising in regulated digital asset infrastructure. Through its subsidiary, Monochrome Asset Management, the group offers institutional-grade access to Bitcoin and Ethereum via exchange- traded fund (ETF) structures, all featuring the world’s first and only two-way in-kind capability.
For more information, please visit: https://www.monochrome.co/
Monochrome Asset Management
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