Kinetic DAX — branded KDX — is a Malaysian Securities Commission (SC) licensed digital asset exchange, formerly known as Tokenize Xchange. After Kenanga Investment Bank Berhad, one of Malaysia's largest independent investment banks, took a controlling stake in the operator, the exchange rebranded to Kinetic DAX, pairing its first-wave SC licence with the backing of an established Malaysian financial group.
About Kinetic DAX
Originally founded in 2019 as Tokenize Technology (Malaysia) and headquartered in Kuala Lumpur, the exchange was among the first to obtain an SC Malaysia Capital Markets Services licence under the country's digital asset framework. The Kenanga acquisition brought institutional capital, compliance depth and distribution, and the platform was relaunched as Kinetic DAX (KDX) — positioning it as a bank-backed, regulation-first local exchange.
Among Malaysia's home-grown SC-registered exchanges, KDX carries one of the wider coin selections, complementing its order-book trading with MYR on/off-ramps for domestic investors.
Key Facts
| Item | Details |
|---|---|
| Brand | Kinetic DAX (KDX) |
| Formerly | Tokenize Xchange (Tokenize Technology Malaysia) |
| Backed by | Kenanga Investment Bank Berhad (majority stake) |
| Founded | 2019 (as Tokenize) |
| HQ | Kuala Lumpur, Malaysia |
| Licence | SC Malaysia Capital Markets Services Licence |
| Fiat | MYR |
| Coins | One of the widest among local SC-licensed exchanges |
Key Features
Kenanga Bank Backing
KDX's defining change from its Tokenize days is its ownership: Kenanga Investment Bank — a long-established Malaysian financial institution — holds a controlling stake. This gives KDX institutional credibility, balance-sheet stability and compliance resources that few independent local exchanges can match.
Wide Local Coin Selection
Relative to other Malaysian SC-licensed players, KDX lists a comparatively broad range of assets, making it a practical home base for Malaysian investors who want more than the handful of majors offered by simpler instant-buy apps.
MYR On/Off-Ramp + Order Book
KDX provides MYR deposits and withdrawals alongside an order-book trading experience with limit and market orders — enabling proper price discovery for active local traders rather than just fixed-spread buying.
Pros & Cons
Pros
- Backed by Kenanga Investment Bank
- First-wave SC Malaysia licence
- One of the widest local coin selections
- MYR on/off-ramp with real order book
- Bank-grade compliance and stability
Cons
- Smaller user base than Luno Malaysia
- Limited international brand recognition
- No public market-data API for price aggregation
- Liquidity thinner than global exchanges
Summary
Kinetic DAX (KDX) is the Kenanga-backed evolution of Tokenize Xchange — a regulated, bank-owned Malaysian exchange with one of the broader local coin line-ups and full MYR fiat support. For Malaysian investors who value an SC licence and the stability of an established financial-group parent, KDX is a credible domestic alternative to Luno, especially for those who want a wider asset menu on an order-book platform.