Major Malaysian Bank Kenanga Acquires 19% Stake in a Crypto Exchange
One of Malaysia’s top investment banks has bought a 19% stake in a local crypto exchange via its private equity arm. The Kenanga Investment Bank announced its inception into the crypto business by investing in Tokenize Xchange. Tokenize Xchange Is One of the Three Malaysian Licensed Crypto Exchanges Per the official announcement, the bank made the transaction through Kenanga Private Equity Sdn Bhd via a conditional agreement to purchase 19% equity interest in the trading platform. Hong Qi Yu, chief executive officer of Tokenize Xchange, founded the firm in 2018. Since its launch in....
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Malaysian financial services firm Kenanga Investment Bank Berhad is getting into digital assets. Kenanga Investment Bank Berhad, one of the largest financial services companies in Malaysia, is moving into the cryptocurrency industry with a new investment.According to an official Feb. 8 announcement, Kenanga has entered into a conditional agreement to acquire a 19% equity stake in a licensed crypto exchange. The investment was facilitated through Kenanga’s fully-owned private equity arm Kenanga Private Equity.According to the agreement, Kenanga will invest in Tokenize Technology, the....
Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange. The acquisition will help the bank “create new growth value in the long term amid a new financial world,” said the CEO of the bank. Major Thai Bank Becoming Majority Shareholder of Cryptocurrency Exchange Thailand’s oldest lender, Siam Commercial Bank (SCB), announced Tuesday that its subsidiary, Siam Commercial Securities Company Ltd. (SCBS), is acquiring a 51% stake in local crypto exchange Bitkub for 17.85 billion baht ($536 million). SCB is the....
Expected to launch in early 2023, Kenanga’s crypto-friendly super app will feature digital investment management, e-wallet, FX, stock trading and other services. Malaysia continues accelerating its pace of cryptocurrency adoption as one of the major local banks is moving into cryptocurrency trading as part of its default banking offerings.Kenanga Investment Bank Berhad, one of the largest private investment banks with more than 500,000 customers, has partnered with China’s tech giant Ant Group to launch a crypto-friendly wallet and trading app.According to an announcement on Wednesday,....
On Tuesday, Deutsche Börse Group, marketplace manager for the trading of shares and other securities, explained the company has acquired a major stake in Crypto Finance AG. The move adds to Deutsche Börse’s extension into the cryptocurrency industry in order to provide custody solutions and a “direct entry point for investments.” Deutsche Börse Group to Expand Further Into Digital Currency Ecosystem Deutsche Börse Group’s latest announcement explains that the company wants to build a trusted and regulated cryptocurrency ecosystem in....
PRESS RELEASE. Baanx, the fast growing B2B2C “Better than a Banking Platform” specializing in fintech services & lending, becomes the third-largest shareholder in the United States regulated Maxwell State Bank in a multi-million-dollar deal to enhance cybersecurity and banking access to communities throughout America.
Maxwell State Bank is a fintech bank and VISA Principal Member established circa 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000 Maxwell has been FDIC certified since 1943 for insured deposits. Maxwell was acquired by....