SANGKAYA, a leading coconut ice cream brand, has appointed blockchain solutions provider Masverse, blockchain solutions company, as its advisor for an initial exchange offering (IEO).
According to the company, the move marks a notable advancement in blockchain adoption within the local retail landscape.
The partnership, formalised through a service agreement, delegates Masverse's advisory team to design and analyse tokenomics (the supply and demand characteristics of cryptocurrencies) for Sangkaya's new utility token, supporting its pioneering IEO initiative.
This collaboration positions Sangkaya as the first major Malaysian retail chain to embrace a blockchain-enabled, community-owned outlet concept.
Also, through the partnership, both Sangkaya and Masverse aim to foster community-driven retail innovation by integrating blockchain technology to empower consumer ownership. They seek to raise industry standards by enhancing transparency, accountability, and community engagement.
Guided by Masverse's advisory expertise, Sangkaya's IEO initiative reflects a bold step towards future-proofing Malaysia's retail sector. The two companies are optimistic about a seamless blockchain integration that will redefine retail in Malaysia, establishing a benchmark for community-focused retail models.