Raiz Invest decided to close its Malaysian business, a joint venture with Jewel Digital Venture and Raiz Invest Australia.

The Malaysian entity has sufficient capital to cover expenses related to the closure, with Jewel Digital Venture committing an additional 3 million Malaysian ringgit ($946,987) to ensure a structured, coordinated wind-down process.

The closure will be implemented in phases to ensure the secure handling of client assets. The exit will not impact the profit and loss of Raiz's Australian operations.

"The decision to close the Malaysian operations will enable Raiz to focus on strengthening and expanding its Australian business," said Brendan Malone, Raiz Invest managing director and CEO.