Major Malaysian Bank Kenanga Acquires 19% Stake in a Crypto Exchange
One of Malaysia’s top investment banks has bought a 19% stake in a local crypto exchange via its private equity arm. The Kenanga Investment Bank announced its inception into the crypto business by investing in Tokenize Xchange.
Tokenize Xchange Is One of the Three Malaysian Licensed Crypto Exchanges
Per the official announcement, the bank made the transaction through Kenanga Private Equity Sdn Bhd via a conditional agreement to purchase 19% equity interest in the trading platform.
Hong Qi Yu, chief executive officer of Tokenize Xchange, founded the firm in 2018. Since its launch in Singapore, the exchange has gathered a customer base of over 100,000. On April 1, 2020, the company went live as a licensed crypto firm in the country.
’s unit is buying a 19% stake in Tokenize Technology (M) Sdn Bhd (Tokenize Malaysia) as it seeks to be a key player in the digital capital market space in the country.
In a statement, it said Kenanga Private Equity Sdn Bhd had entered into a conditional agreement to acquire the stake in Tokenize Malaysia, which has been operating under the brand Tokenize Xchange.
Tokenize Malaysia is one of the three licensed digital asset exchanges (DAX) approved by the Securities Commission (SC). It is the second largest DAX in the country by traded market share.
Tokenize Xchange is an online exchange that allows trading of cryptocurrencies such as bitcoin and ethereum, and operates 24x7, whole year round.
KUALA LUMPUR: Kenanga Investment Bank Bhd’s unit is buying a 19% stake in Tokenize Technology (M) Sdn Bhd (Tokenize Malaysia) as it seeks to be a key player in the digital capital market space in Malaysia
KUALA LUMPUR (Feb 8): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Feb 9) include: Dagang NeXchange Bhd (DNeX), Telekom Malaysia Bhd (TM), Kenanga Investment Bank Bhd, Widad Group Bhd, Chin Hin Group Property Bhd, Tomei Consolidated Bhd, XOX Bhd, AwanBiru Technology Bhd (AwanTec), Malayan Banking Bhd (Maybank), PLS Plantations Bhd, QL Resources Bhd and Boilermech Holdings Bhd.
A consortium led by
Dagang NeXchange Bhd (DNeX) has won the bid to acquire semiconductor fabricating company SilTerra Malaysia Sdn Bhd from Khazanah Nasional Bhd. DNeX said Khazanah has informed DNeX that it had won its bid for the entire issued share capital of SilTerra, subject to the signing of a definitive agreement.
2021/02/08 11:30 KUALA LUMPUR, MALAYSIA - Media
OutReach - 8 February 2021 - Accelerating its digital agenda, Kenanga
Investment Bank Berhad via its wholly-owned
private equity arm, Kenanga Private Equity Sdn Bhd, today entered
into a conditional agreement to acquire 19.0% equity interest in Tokenize
Technology (M) Sdn Bhd (Tokenize Malaysia).
Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank Berhad Operating under the brand, Tokenize Xchange, it is one of the three licensed
Digital Asset Exchanges (DAX) by the Securities Commission of Malaysia (SC),
and is currently the second largest DAX in the country by traded market
share. Tokenize Xchange is an online exchange that allows trading of