Gaming product manufacturer Razer acquired a 19.9% stake in Malaysia-based online payment services provider MOL Global on Tuesday at a $100m valuation.
The stake was bought by a Razer subsidiary dubbed ZV-Midas from an existing MOL investor called Hotel Resort Enterprise and an investment vehicle known as MOL Investment.
Publicly listed MOL operates an online payment platform that allows users to pay for goods and services through either cash or digital payment methods.
The company also offers mobile payment services as well as products that include a micropayment system for online games and content, a prepaid mobile and game credit network, an online gaming platform and a money transfer app.
Razer provided the funding as part of a strategic partnership agreement that will make MOL a master distributor of its virtual currency, zGold, in Southeast Asia.
MOL’s own virtual currency, MOLPoints, will be rebranded to zGold-MOLPoints and distributed in online and live retail stores across Singapore, Malaysia, Thailand, Philippines, Vietnam, Indonesia, Australia and New Zealand.
Min-Liang Tan, co-founder and CEO of Razer, said: “This partnership holds true to our commitment to give value back to our gamers by offering a universe of digital content, secure and convenient payments and a unique gamer rewards program.
“Together with MOL, we are one step closer to our ultimate vision of a unified virtual currency for gamers.”