Kenanga buys 19% in Tokenize Malaysia

Kenanga IB managing director Datuk Chay Wai Leong (pic) said the acquisition was part of its strategy to offer a wide spectrum of financial products and services, including digital assets.

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 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.