[{"data":1,"prerenderedAt":120},["ShallowReactive",2],{"/blog/kenanga-kdx-first-bank-backed-dax-2026":3},{"id":4,"title":5,"author":6,"authorPic":7,"body":8,"category":109,"coverPics":18,"date":110,"description":111,"extension":112,"meta":113,"navigation":114,"path":115,"seo":116,"stem":117,"type":118,"__hash__":119},"blogs/blog/kenanga-kdx-first-bank-backed-dax-2026.md","Kenanga takes KDX to 81.7% — Malaysia gets its first bank-backed exchange","Malaysia Blockchain Association Team","https://api.dicebear.com/7.x/avataaars/svg?seed=mba-team-3",{"type":9,"value":10,"toc":100},"minimark",[11,19,22,41,46,61,65,68,73],[12,13,14],"p",{},[15,16],"img",{"alt":17,"src":18},"Exchange desk","/img/blog/gen/kenanga-kdx-first-bank-backed-dax-2026.svg",[12,20,21],{},"The line between Malaysian banking and Malaysian crypto just got crossed — deliberately, and with regulatory blessing.",[12,23,24,28,29,32,33,36,37,40],{},[25,26,27],"strong",{},"Kenanga Investment Bank"," has raised its stake in ",[25,30,31],{},"Kinetic DAX (KDX)"," from 19% to ",[25,34,35],{},"81.70%"," through a fundraising and capitalisation exercise, making the exchange — formerly Tokenize Malaysia — a Kenanga subsidiary and ",[25,38,39],{},"Malaysia's first bank-backed digital asset exchange",".",[42,43,45],"h2",{"id":44},"the-numbers-behind-the-deal","The numbers behind the deal",[12,47,48,49,52,53,56,57,60],{},"KDX offers more than 20 of the 23 SC-approved digital assets and has facilitated over ",[25,50,51],{},"RM1.5 billion"," in cumulative trading volume. Kenanga first bought into the exchange in 2022; today's move converts a strategic bet into a core business line. Group managing director ",[25,54,55],{},"Datuk Chay Wai Leong"," and KDX CEO ",[25,58,59],{},"Chan Wei Chi"," framed the deal as pairing the bank's balance sheet and compliance depth with the exchange's licence and technology.",[42,62,64],{"id":63},"what-bank-ownership-changes","What bank ownership changes",[12,66,67],{},"Everything customers can't see: capital adequacy, internal audit, board governance, institutional distribution. In a market where Luno holds over 90% share, a challenger with an investment bank's resources is the most credible competitive event since licensing began — and a template regulators across the region will be watching. The traditional financial system isn't fighting Malaysia's digital asset market anymore. It's buying in.",[69,70,72],"h3",{"id":71},"references","References",[74,75,76,86,93],"ul",{},[77,78,79],"li",{},[80,81,85],"a",{"href":82,"rel":83},"https://www.kenanga.com.my/news/media-releases/kenanga-investment-bank-ups-stake-in-kdx-establishing-malaysias-first-bank-backed-digital-asset-exchange/",[84],"nofollow","Kenanga — \"Kenanga Investment Bank ups stake in KDX, establishing Malaysia's first bank-backed digital asset exchange\" (19 Mar 2026)",[77,87,88],{},[80,89,92],{"href":90,"rel":91},"https://www.thestar.com.my/business/business-news/2026/03/19/kenanga-investment-bank-ups-stake-in-kdx-to-8170",[84],"The Star — \"Kenanga Investment Bank ups stake in KDX to 81.70%\" (19 Mar 2026)",[77,94,95],{},[80,96,99],{"href":97,"rel":98},"https://www.businesstoday.com.my/2026/03/21/kenanga-doubles-down-on-digital-assets-raises-stake-in-kdx-to-81-7/",[84],"Business Today — \"Kenanga doubles down on digital assets\" (21 Mar 2026)",{"title":101,"searchDepth":102,"depth":102,"links":103},"",2,[104,105],{"id":44,"depth":102,"text":45},{"id":63,"depth":102,"text":64,"children":106},[107],{"id":71,"depth":108,"text":72},3,"News","2026-03-19","Kenanga Investment Bank raises its stake in Kinetic DAX from 19% to 81.7%, making the rebranded exchange a subsidiary — and Malaysia's first DAX majority-owned by a bank.","md",{},true,"/blog/kenanga-kdx-first-bank-backed-dax-2026",{"title":5,"description":111},"blog/kenanga-kdx-first-bank-backed-dax-2026","blog","WUKsi0Tz_k62O-1oQLp0UcP4vTta6YfDQhPTlzTzxgI",1784183599513]