Awkwafina is set to star in gambling drama 'The Baccarat Machine'.
The 'Crazy Rich Asians' star will play Cheung Yin 'Kelly' Sun, who amassed millions of dollars in an unlikely partnership with poker player Phil Ivey.
The duo used a technique known as edge sorting - recognising the use of playing cards in which the edges on either side are unevenly cut by fractions of an inch.
The project is based on an article, titled 'The Baccarat Machine', that was published by Michael Kaplan in Cigar Aficionado.
Plot details describe Kelly as: "A young Chinese woman who turns a painstakingly developed talent and obsession for payback into beating the system at their own game.
"With major casinos conspiring to bar her from their properties, Sun partners with the international 'King of Poker' Phil Ivey in order to take down the system through subterfuge, ingenuity, and pure daring, resulting in one of the most ingenious legal gambling runs ever recorded."
It will be financed and produced by SK Global, who expressed their excitement at the chance to work with Awkwafina.
SK Global co-CEO John Penotti said: "We can't think of a better way to start this project than by announcing that our friend Awkwafina has come on board.
"She is uniquely equipped to bring Kelly to life onscreen and will infuse the role with genuine humor and humanity. Along with our partners at Sharp, we're thrilled to bring this unbelievable story to the screen."
The 31-year-old actress recently won a Golden Globe for her role as Billi Wang in 'The Farewell' and has also appeared in 'Jumanji: The Next Level' and 'Ocean's 8'.