How to Trade Pudgy Penguins (PENGU) in Malaysia

From Malaysia, exposure to Pudgy Penguins runs through a USDC-settled perpetual.

Is Pudgy Penguins trading legal in Malaysia?

Spot crypto sits inside the regulated perimeter: the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 made digital currencies and digital tokens securities, so the Securities Commission Malaysia regulates the trading, issuance and safekeeping of digital assets, while Bank Negara Malaysia holds the payments side and has stated that digital assets are not a payment instrument it regulates and are not legal tender. A resident may hold and trade crypto, but through a Recognized Market Operator that the SC has registered to run a Digital Asset Exchange — six of them at this check: HATA Digital, Luno Malaysia, MX Global, SINEGY DAX, Kinetic DAX and Kapital DX.

What the contract is

The contract itself does not change by geography: a PENGU perpetual settles in USDC everywhere.

Sign up on Canborsa with email, X or a wallet

No document upload to open the account. Canborsa is non-custodial: your collateral stays under your own keys until a position opens.

Email X Wallet

Fund the account with USDC

Deposit USDC over Canton, Robinhood Chain, Ethereum, Base, BNB Chain or Arbitrum. Canborsa takes no fiat, so buying the USDC happens wherever you normally buy stablecoins.

→Robinhood Chain

Open PENGU-PERP

Pick PENGU in the markets list. The ticket shows the live price, the current funding rate and max leverage 5x .

PENGU-PERPPerpetual · USDC marginLONG

Choose Buy / Long, then set size and leverage

Buying $1,000 of PENGU at 5x uses $200 of collateral. Higher leverage moves the liquidation price closer to your entry: your exposure is the position size, whatever margin you posted. Set a stop-loss below your entry before you walk away.

No crypto-specific rate exists. Whether a gain is taxed at all turns on the badges of trade: a disposal that is capital in nature is outside Malaysia's capital gains tax, because for movable property situated in Malaysia only unlisted shares of Malaysian-incorporated companies are within CGT. A gain of a trading or revenue nature is taxable as income under the Income Tax Act 1967 at the taxpayer's ordinary rates.

Trading Pudgy Penguins from Malaysia: legal.

For Malaysia residents trading Pudgy Penguins: No crypto-specific rate exists.

For Pudgy Penguins traders in Malaysia: Full identity verification before any activity, including before a first deposit.

From Malaysia, you can fund a Pudgy Penguins position using FPX online banking transfer, DuitNow / IBFT instant bank transfer and Local bank transfer (internet banking).

Malaysia residents can trade Pudgy Penguins on 15 platforms, including Aevo, ApeX and Aster.