Securities Commission Grants Full Approval for Digital Exchange Operator
Digital asset exchange (DAX) operator Tokenize Malaysia has received its full approval by the Securities Commission Malaysia (SC) to operate in Malaysia. As the SC is the statutory body carrying out the responsibility to regulate and develop the Malaysian capital market, this marks Tokenize Xchange’s recognition here in Malaysia as a legally approved and regulated platform. With this, Tokenize Malaysia can now accept clients with its digital asset exchange being recognised as a safe and secure platform.
“It’s a crucial moment we have been looking forward to. We are now able to go ‘live’ in Malaysia and it is perfect timing – as we have received many interested enquiries from individuals aged 24 to 50 years old who are keen to invest in digital assets,” said Hong Qi Yu, Chief Executive Officer and Chief Technology Officer of Tokenize Malaysia.
“The digital asset industry is by far one of the best equipped and it is business as usual for us as the industry is used to working and communicating effectively across time zones and managing teams remotely, that being said, similar to what the stock markets and businesses have experienced, in terms of the volatility of sales, revenue and business continuity at stake – the digital asset market has also seen very volatile movements”
“Prices of bitcoin for example have fallen by almost 50%. While some may see it as an opportunity to invest, it is nevertheless a bearish market and individuals should be well informed before looking into investing into digital assets.
Founded by Malaysian entrepreneur, Hong Qi Yu, Tokenize Xchange first began its operations in Singapore back in October 2017, with over 100,000 clients to date. It aims to capture both the Malaysian market as well as South East Asia within its expansion plans. As an approved digital asset exchange (DAX), Tokenize Malaysia has a paid up capital of RM5 million.