Accoding to the article from The Edge on 3rd Nov 2020: https://www.theedgemarkets.com/article/fint...est-both-worlds

The Versa app will allow investors to withdraw their money within a day, similar to what is already being offered by some of the existing fund houses.

However, Teoh plans to allow Versa’s users to spend the money they have invested in AHAM’s Enhanced Deposit Fund instantly, starting the second quarter of next year.

Also, Versa has signed a memorandum of understanding (MoU) with a global payments technology company, an international financial services company that facilitates electronic fund transfers globally, which will allow Versa’s users to make payments starting next year.

“If the plan is successful, subject partly to regulatory approval, our users will receive a debit or prepaid card that will allow them to spend the money invested in AHAM’s fund instantly. You may walk up to a merchant and make payments with your card. The money will be deducted from the pool of money you have invested in AHAM’s fund. You can also make online payments to purchase stuff by keying in the card details.

“If the plan pans out, it will be the first of its kind in Malaysia,” says Teoh, adding that Grab Holdings Inc launched a similar initiative called Grab Invest in Singapore recently.

Three companies - Pay:Watch, Versa, GetHyred – showcased their solutions to improve employability and financial health among gig workers at the Apec Virtual Finance Ministers’ Meeting (AVFMM) on Sept 25.

The Star > https://www.thestar.com.my/business/busines...aid-gig-workers

BNM > https://www.bnm.gov.my/index.php?ch=en_pres...n_press&ac=5139