Malaysia Boosts Blockchain Embrace as MiL.k Expands

Malaysia continues to warm up to web3 as blockchain-based rewards platform MiL.k eyes the region in its global expansion.

MiL.k is accelerating its global expansion by joining the Boost Rewards 2 No End campaign, run by Malaysian payment firm Boost. Boost is the fintech arm of Axiata with over 10 million users.

The rewards program offers Malaysian users exclusive prizes and offers including 1,500 Boost Stars and chances to win prizes. Boost Stars area used to redeem discounts and rewards.

MiL.k is expecting the collaboration to increase its brand awareness and recruit users in Malaysia.

CEO of Milk Partners, Jayden Jo, said the firm is continuing to expand their ecosystem and partnerships to "become the world’s leading blockchain-based reward integration platform.”

MiL.k has over 1.3 million users through its partnerships including AirAsia, Lotte L.point, Yanolja, Shinsegae Duty Free, CU, INTERPARK, Megabox and Jinair.

Malaysia has taken a relatively warm approach to web3, edging its way closer to Singapore in the global crypto rankings.

In Coincub’s Q3 Global Crypto Rankings, Malaysia ranked just behind Singapore in 6th place – a significant jump from its Q2 position of 43rd. Malaysia wasn’t even featured in Q1’s top 45, but was commended for being 3rd in the top bitcoin mining countries per GDP.

In an interview with Blockhead, Ts. Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation (MDEC) said “we see experiential digital content as important catalytic projects to drive more application for [blockchain] technology.”

“We’re seeing incredibly innovative economic models coming out from metaverse projects and seeing this innovation is exciting as Malaysia will get a chance to play a pivotal role in shaping the global landscape,” Low said.