Kenanga Group launches Malaysia's first tokenised money market funds

From left: Betty Sun-Lucas, Regional Director, APAC, Stellar Development Foundation; Jose Fernandez da Ponte, President, Chief Growth Officer, Stellar Development Foundation; Datuk Chay Wai Leong, Group Managing Director, Kenanga Investment Bank; Datuk Wira Ismitz Matthew De Alwis, Executive Director & Chief Executive Officer, Kenanga Investors; and Ranjit Gill, Director, Head of Product and Market Development, Kenanga Investors

KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) and US-based non-profit Stellar Development Foundation have introduced Myrra, a dedicated token platform that leverages the Stellar blockchain to enable the tokenisation of real world-assets.

The inaugural deployment on the Myrra platform is the tokenisation of the Kenanga Money Market Fund (KMMF) and the Kenanga Islamic Money Market Fund (KIMMF) managed by Kenanga Investors Bhd - the first tokenised unit trust funds to go live within the Malaysian market.