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KUALA LUMPUR, Malaysia, June 07, 2024 (GLOBE NEWSWIRE) - VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), is proud to announce the launch of “Socializer”, a consumer version of military-grade secured messenger platform currently serving a European government and businesses. Socializer aims to protect data privacy and facilitate digital asset storage. This initiative, in collaboration with a Switzerland-based provider, includes the development of a secure digital asset wallet, extending robust security features to consumers worldwide.

Socializer stands out with its military-grade end-to-end encryption, ensuring that user communications and media remain private and secure. A highlight of the platform is its advanced facial recognition technology that instantly conceals chats with “private status” contacts when someone other than the user is looking at the phone, adding an extra layer of privacy.

In addition to secured messaging, Socializer offers comprehensive media management tools, including secure local file storage, editing tools for documents and photos, document signing, and a secure backup system. The platform also integrates a decentralized wallet, enabling users to store, swap, receive, and transfer multiple fiat and cryptocurrencies seamlessly and globally.

According to Allied Market Research, the messaging security market is projected to grow at a compound annual growth rate (CAGR) of 14.30%, reaching US$21.6 billion by 2032 from 2023. This growth is driven by the increasing complexity of cyber threats and regulatory compliance requirements. Additionally, the global crypto wallet market, valued at US$ 10.28 billion in 2023, is projected to exceed US$ 94.45 billion by 2033, with a CAGR of 24.83% from 2024 to 2033, as projected by Vision Research Reports. This growth is fueled by the widespread acceptance of cryptocurrencies, the rising awareness of blockchain technology and transaction volume, and the regulatory compliance changes.

The beta version of Socializer will be available for download on Android and Apple App Stores starting July 2024, with the grand launch of the full version anticipated in October 2024.

“Socializer is a game-changer in the world of secure communication and digital asset management. Our advanced security features, combined with user-friendly functionalities, set a new standard for privacy and control,” said Pascal Lauria, Chief AI Officer based in Frankfurt of VCI Global.

“Socializer is a pivotal addition to our portfolio, reflecting our commitment to innovation and security. This platform not only safeguards user privacy but also expands our reach across various markets and enhances our service offerings in fintech and cybersecurity,” said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, cybersecurity, and gamification. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI, robotics, and gamification.

For more information on the Company, please log on to https://v-capital.co/. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

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