A business of PUC Berhad (ACE: 0007)
Malaysia's B2B settlement infrastructure
Malaysian commerce runs 24/7. Now settlement does too.
- MYR-backed
- Always-on
- Built on Polygon L1
Malaysian commerce is always-on. B2B settlement is not.
Malaysia's payment acceptance layer is fast — FPX, DuitNow, and card schemes confirm in near real-time. But once the sale is done, the story changes.
B2B settlement between merchant suppliers, sub-suppliers, and logistics partners still runs on IBG — batch windows, banking hours, and a separate bank transfer at every tier.
3+ days
A three-hop supply chain can take three or more business days to fully settle from the original sale.
- 01
IBG batch windows
Every supply chain hop waits for banking hours, accumulating days of delay per transaction cycle.
- 02
Fragmented reconciliation
Bank statements from multiple institutions create reconciliation overhead and audit gaps across the supply chain.
- 03
Repeated fiat exits
Each hop exits to fiat separately, paying conversion and transfer costs at every tier instead of once at the edge.
- 04
No 24/7 settlement layer
A MYR-denominated layer that runs continuously — behind the existing rails, not replacing them — is missing.
GMYR — Malaysia's first MYR-denominated B2B digital settlement instrument
GenieX Lab has built GMYR — a fully reserved, MYR-backed digital settlement instrument that moves value between verified merchant suppliers on-ledger, 24/7, with a single fiat exit at the network edge.
- Fully reserved — every GMYR backed 1:1 by MYR in a licensed, ring-fenced account
- Issuance and redemption events recorded on Polygon for public auditability
- Fiat layer handled by G Pay (G Pay Technology Sdn Bhd), a licensed non-bank e-money issuer
- Merchant integration via clean REST API — no blockchain knowledge required
GMYR is not a consumer product. No retail user ever holds, sees, or interacts with it. Access is restricted to KYB-verified merchant suppliers only.
What GenieX Lab does
GenieX Lab is the settlement execution layer — the settlement execution engine inside the GMYR ecosystem. We issue, transfer, and burn GMYR tokens on instruction from G Connect, never directly.
Token issuer. Settlement layer. Nothing else.
Each layer has one job, with no overlap. G Connect onboards merchants, G Pay holds the MYR, and GenieX Lab executes settlement.
See how the three layers fit togetherWhat the infrastructure does
GMYR is settlement infrastructure, not a crypto product. It solves the obligations existing rails leave unresolved.
GMYR settlement instrument
GMYR moves value between verified merchant suppliers on-ledger, instantly, at any hour. Every token is backed 1:1 by MYR. No speculation. No secondary market.
Ledger-based settlement and reconciliation
Every GMYR movement is logged on an off-chain ledger with on-chain mint and burn events anchored to Polygon. One auditable record across the entire supply chain.
Infrastructure APIs and SDKs
Merchant suppliers integrate via clean REST APIs. No wallets to manage, no gas fees to think about, no blockchain expertise required.
Two settlement paths
Path A — MYR payout
GMYR is burned and the equivalent MYR is released to the merchant's verified bank account via regulated rails.
Path B — On-ledger transfer
GMYR moves to a downstream KYB-verified counterparty for further settlement in the supply chain.
Every participant can exit to MYR via Path A at any time, unconditionally.
Built for Malaysian commerce
Four steps. One settlement layer. No blockchain expertise required.
- 1
KYB onboard
Merchant suppliers complete KYB verification through G Connect. Only verified participants receive a whitelisted wallet address.
- 2
Deposit MYR
Merchants deposit MYR via regulated rails into G Pay's ring-fenced PSP settlement account. GMYR is minted 1:1 on instruction.
- 3
Settle in GMYR
GenieX executes on-ledger GMYR transfers between KYB-verified counterparties, 24/7, with full auditability on Polygon.
- 4
Redeem to MYR
At any time, participants exit via Path A — GMYR is burned and MYR is released to their verified bank account via FPX or IBG.
GMYR is not a crypto product. It doesn't compete with Malaysia's existing payment rails — it runs behind them, settling the obligations they leave unresolved. Built for the supply chains that keep Malaysian commerce moving.
Built to sit on the right side of the line
Every design decision in the GMYR system is made with regulatory clarity in mind. Reserve integrity, access control, and on-chain auditability are non-negotiable.
100% reserve-backed
GMYR is only ever minted against MYR already sitting in G Pay's ring-fenced PSP settlement account. On-chain supply can never exceed the reserve. Independently attested monthly.
No yield. No secondary market. No exceptions.
KYB-gated and whitelist-enforced
No wallet is provisioned without a confirmed KYB approval from G Connect. Transfers to non-whitelisted addresses revert automatically at the smart-contract level — no application-layer workaround is possible.
Every GMYR movement is screened for AML/CFT compliance.
On-chain transparency via Polygon
Every mint and burn is recorded on Polygon with a publicly verifiable TxHash. Day-to-day transfers run off-chain for speed and cost efficiency.
Only events that change total GMYR supply touch the blockchain.
Three layers. One ecosystem. No gaps.
Three parties. Three distinct roles. No single entity touches both the fiat and the token. That separation is the compliance architecture.
Layer 1
G Connect
Merchant gateway and onboarding
The merchant-facing gateway and onboarding layer. G Connect registers participants, runs KYB verification, and sends all deposit and withdrawal instructions to GenieX.
No GMYR is ever minted or burned without a G Connect instruction.
Layer 2
G Pay
Licensed non-bank e-money issuer
G Pay Technology Sdn Bhd — a licensed non-bank e-money issuer under Bank Negara Malaysia's framework — holds all MYR reserves in a segregated PSP settlement account and handles fiat payout via IBG and FPX.
The consumer never touches GMYR — only their G Wallet in MYR.
Layer 3
GenieX Lab
Settlement execution engine
Receives instructions from G Connect via API, executes GMYR mint, transfer, and burn, and maintains the authoritative off-chain ledger for all participant balances. On-chain records anchor every issuance and redemption to Polygon.
Token issuer. Settlement layer. Nothing else.
Ready to access Malaysia's B2B settlement infrastructure?
Enter the GenieX Portal to explore the platform, access API documentation, and begin KYB onboarding for your business.
