Kenanga Establishes KDX as Its Subsidiary After Raising Stake to 81.7%

Kenanga Investment Bank has increased its stake in Kinetic DAX to 81.7%, making the exchange its subsidiary. It previously held a 19% stake.

The transaction was carried out through Kenanga Private Equity, the group’s wholly owned subsidiary, as part of a fundraising and capitalisation exercise by KDX.

KDX, which is licensed by the Securities Commission Malaysia, is now Malaysia’s first and only bank-backed digital asset exchange.

The bank said KDX’s stronger capital position will support its next phase of growth and resilience, including platform expansion, broader offerings and strategic initiatives linked to Kenanga’s wider digital plans.

It added that KDX will also benefit from the group’s technology, marketing and governance capabilities.

“By bringing KDX directly into Kenanga, beyond a financial investment, we look forward to accelerating innovation, strengthening market infrastructure, and delivering long-term value for investors as digital assets become an increasingly important part of the investment landscape,”

said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad.

“Backed by Kenanga, a home-grown financial institution that has been thriving for over 50 years in the Malaysian capital market, we are uniquely positioned to not only drive commercial expansion, and support the development of digital asset trading in Malaysia, but also to strengthen our position as a trusted gateway for investors to participate in the digital asset market within a regulated and secure environment,”

said Chan Wei Chi, Chief Executive Officer of KDAX.

The latest development follows Kenanga’s announcement last month at Blockchain Summit 2026 in Japan, where it unveiled Myrra with the Stellar Development Foundation.

The platform is built on the Stellar blockchain to support the tokenisation of real-world assets.

Its first deployment involves the tokenisation of the Kenanga Money Market Fund and the Kenanga Islamic Money Market Fund, which Kenanga has described as Malaysia’s first tokenised money market funds.

Both are managed by Kenanga Investors Berhad.

Featured image: Edited by Fintech News Malaysia, based on image by Kenanga Investment Bank