Kenanga Launches Malaysia’s First Tokenised Funds on Stellar

Kenanga Introduces Myrra for Tokenised Money Market Funds

Kenanga Investment Bank Berhad, known as Kenanga Group, has partnered with the Stellar Development Foundation, a non profit group based in the United States that supports the Stellar network, to launch Myrra. Myrra is a dedicated token platform built on the Stellar blockchain. Its goal is to enable the tokenization of real-world assets. The first launch on Myrra includes the Kenanga Money Market Fund and the Kenanga Islamic Money Market Fund. These funds are managed by Kenanga Investors Berhad. Together, they are the first tokenized unit trust funds to go live in the Malaysian market.

Through this move, investors can buy and sell blockchain-based digital versions of the funds' units on the Myrra platform. Each token is issued on a 1:1 basis, meaning one token equals one unit of the respective fund. This structure ensures the digital tokens work the same as traditional fund units while maintaining regulatory compliance, equal legal status with existing unit holders, and strong operational standards. The launch was announced at Blockchain Summit 2026, co-organized by Credit Saison and Pacific Meta during Japan Fintech Week. By using the Stellar blockchain, Kenanga Group is expanding access to its Malaysian Ringgit money market funds through Myrra’s web portal.

By tokenizing its Malaysian Ringgit money market funds on the trusted Stellar blockchain, Kenanga Group is making its money market products available to a wider group of Malaysian investors. Investors can buy or sell tokens directly through Myrra’s web portal.

“The launch of Malaysia’s first tokenized money market funds on the Myrra platform is a major step in our Group-wide effort to strengthen digital innovation across Malaysia’s capital markets,” said Datuk Chay Wai Leong, Group Managing Director of Kenanga Group. “By using the Stellar network, we are helping build digital public infrastructure that aligns with Malaysia’s goal of becoming a regional hub for blockchain finance.”

“The use of tokenization is a strategic effort to improve our current distribution and operational systems through the efficiencies offered by Distributed Ledger Technology,” said Datuk Wira Ismitz Matthew De Alwis, Chief Executive Officer and Executive Director of Kenanga Investors. “We believe this will help expand investor participation while maintaining strong regulatory standards and transparency.”

Operating for more than ten years, Stellar is one of the earliest blockchains created to support payments, asset issuance, and financial products with strong attention to compliance and transparency. It hosts Franklin Templeton’s Benji token, enables MoneyGram’s worldwide USDC on and off-ramp services across 170 countries, and supports UNHCR in distributing aid through USDC.

"Tokenization delivers practical value and wider access when built on infrastructure trusted by institutions and regulators,” said Jose Fernandez da Ponte, President and Chief Growth Officer at the Stellar Development Foundation. “Stellar was developed to support regulated financial products, improve access, and provide secure rails for enterprise-grade assets, as shown by Kenanga Group’s deployment.”

Myrra represents a significant move in unlocking Malaysia’s tokenized asset market, which is expected to reach US$43 billion by 2030. It supports the Securities Commission Malaysia’s efforts to advance tokenized capital market products under a framework that encourages innovation while safeguarding investors and aims to enable quicker settlement and improved transparency.

The KMMF is designed to deliver consistent income while maintaining capital stability through full investment in money market instruments, debentures, and deposits. The KIMMF provides comparable benefits in line with Shariah principles. Both funds target investors seeking stable, short-term returns with minimal volatility.

Disclaimer: The Replacement Master Prospectus, including all related supplemental and supporting documents, and the Product Highlight Sheet (PHS) have been registered and/or lodged with the Securities Commission Malaysia (SC). The SC does not take responsibility for the contents, advertisements, or marketing materials and does not indicate that it has recommended or endorsed the product or service. The material has not been reviewed by the SC. Investors may request copies of the RMP, PHS, and other disclosure documents at our office, authorized distributors, or corporate website before investing. If unsure, consult a professional adviser. Past performance does not guarantee future results. Kenanga Investors Berhad 199501024358 (353563-P) maintains procedures to manage conflicts of interest and ensure proper disclosures where necessary.

About Kenanga Investment Bank Berhad 197301002193 (15678-H)

Established more than 50 years ago, Kenanga Investment Bank Berhad (“Kenanga” or “the Group”) is one of Malaysia’s leading financial groups. It provides a broad range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing.

The Group has also advanced its digital offerings with the launch of KDi GO, a wealth-focused app, and Kenanga Digital Investing, an AI-powered robo advisor. It introduced Rakuten Trade, Malaysia’s first fully digital stockbroking platform, through a joint venture with Japan’s Rakuten Securities, Inc. The Group has further expanded into digital assets through its investment in Kinetic DAX Sdn Bhd, formerly known as Tokenize Technology (M) Sdn Bhd.

Kenanga has received many respected industry awards, including top recognition at the Bursa Excellence Awards, Asia Asset Management’s Best of the Best Awards, and The Morningstar Awards. The Group has also been honored for its sustainability leadership at The Edge Malaysia ESG Awards and the Euromoney Awards for Excellence. In addition, it has earned recognition for strong corporate governance and sustainability practices at the National Corporate Governance and Sustainability Awards.

As one of the highest-scoring constituents of the FTSE4Good Bursa Malaysia Index and a participant of the United Nations Global Compact, the group continues to promote collaboration, innovation, and sustainability across the financial industry.

About Kenanga Investors Berhad 199501024358 (353563-P)

We provide investment solutions ranging from collective investment schemes and portfolio management services to alternative investments, as well as wills and trusts for retail, corporate, institutional, and high net worth clients via a multi-distribution network.

The Hong Kong-based Asia Asset Management's 2026 Best of the Best Awards awarded KIG under the following categories: Malaysia Best Impact Investing Manager, Best Impact Investing Manager in ASEAN, Malaysia Best Equity Manager, Malaysia Best House for Alternatives, Malaysia Best ESG Engagement Initiative, Malaysia CEO of the Year, and Malaysia CIO of the Year. 

At the IFN Investor Awards 2025, KIB received accolades for the Kenanga Islamic Balanced Fund in the categories of “IFN Investor Best Balanced Mixed Assets Fund in Malaysia—MYR 2025," “IFN Investor Best Balanced Mixed Assets Fund in Asia Pacific 2025”, and “IFN Investor Best Global Balanced Mixed Assets Fund 2025." ”.

The Morningstar Awards 2025 has recognized the Kenanga Blue Chip Fund as Best Malaysia Large-Cap Equity Fund. At the LSEG Lipper Fund Awards Malaysia 2025, KIB received awards for the Kenanga DividendEXTRA Fund (“KDEF”) under the Best Equity Malaysia Diversified—Malaysia Funds over 3 years, Kenanga Malaysian Inc Fund (“KMIF”) under the Best Equity Malaysia Diversified – Malaysia Provident Funds over 10 years, Kenanga Balanced Fund (“KBF”) under the Best Mixed Asset MYR Balanced – Malaysia Provident Funds over 10 years, Kenanga Managed Growth Fund (“KMGF”) under Best Mixed Asset MYR Flexible—Malaysia Provident Funds over 10 years, and Kenanga SyariahEXTRA Fund (“KSEF”) under the Best Mixed Asset MYR Balanced – Malaysia Islamic Funds Awards over 10 years.

The FSMOne Recommended Unit Trusts Awards 2025/2026 has awarded the Kenanga Growth Fund Series 2 with the "Sector Equity – Malaysia Focused" award for the fourth consecutive year since 2022. For the ninth consecutive year, KIB was affirmed an investment manager rating of IMR-2 by Malaysian Rating Corporation Berhad, since first rated in 2017. 

About The Stellar Network

The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders smart contracts functionality and a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions of operations with millions of accounts since the network was first launched.