Announcement: 19 March 2026.
Kenanga Investment Bank announced that its stake in Kinetic DAX increased from 19% to 81.70%, making the digital asset exchange a subsidiary. The transaction took place through Kenanga Private Equity as part of KDX's fundraising and capitalisation exercise.
Kenanga described KDX as Malaysia's first bank-backed digital asset exchange. That description is the bank's statement. Its announcement said the stronger capital position would support platform development, additional offerings and the group's digital strategy.
The transaction demonstrates a Malaysian investment bank taking a controlling position in a regulated digital asset business. The release does not establish a new licence category, market-share result or guaranteed change in services for customers.
Source: Kenanga's release, 19 March 2026.