MY E.G. Services Bhd ("MYEG" or "the Group") announced that it has entered into an equity joint venture with China's Bubi Technologies Co. Ltd. ("Bubi") to build supernodes around the world based on a blockchain system that will ensure data compatibility with China's national blockchain infrastructure to enable introduction of game-changing applications, including in the area of global cross-border supply chain financing and traceability. Through a Malaysian-incorporated joint venture ("the JV") that will be 51% held by MYEG, the partners will set up supernodes outside China based on a high-performance and highly compatible blockchain system that is developed by Bubi and is being used by China's recently launched national blockchain infrastructure. These supernodes will offer both a public blockchain network, which is one that is permissionless and open to anyone to participate, as well as a private blockchain network, where participation will be restricted to permissioned entities typically required for B2B use cases, with each network designed to serve distinct purposes. The partnership between MYEG and Bubi, which covers the development of supernodes outside of China including in Malaysia, Indonesia and the Philippines, among others, is exclusive for an initial 3-year period. The MYEG and Bubi JV's blockchain supernodes will be fully compatible and interoperable with China's national blockchain supernodes, enabling seamless integration and exchange of data blocks. The platform will, thus, lend itself well to the provision of solutions that have been long and much sought-after in global trade: end-to-end product traceability and financing along the entire supply chain, which, in this case, relates to the two-way flow of goods between China and the rest of the world. The partnership with Bubi marks the latest blockchain-related initiative by MYEG following the recent introduction of decentralised finance ("DeFi") services that enable holders of cryptocurrencies to maximise the returns on their holdings.