Tokenize Xchange, a leading digital asset exchange based in Singapore, has appointed Carney Mak as Chief Strategy Officer. This strategic hire comes as the company continues its rapid expansion, buoyed by recent fundraising successes.
Mak's appointment follows Tokenize Xchange's securing of an additional US$11.5 million in Series A Phase 2 funding, bringing the total Series A funding to US$23 million. The company aims to leverage Mak's extensive experience in the fintech and cryptocurrency sectors to accelerate its growth.
"Carney's appointment is a game-changer for us," stated Hong Qi Yu, Founder and CEO of Tokenize Xchange. "His strategic vision and deep industry knowledge are exactly what we need as we navigate the complex, evolving landscape of digital assets in Southeast Asia."
Mak previously led fintech and cryptocurrency initiatives at FXHB Asset Management, and his expertise in banking and payments is expected to be instrumental in steering Tokenize's strategic initiatives. "Joining Tokenize Xchange feels like catching a rocket mid-flight," Mak remarked. "The company’s recent funding success and its commitment to regulatory excellence create a perfect launchpad for innovation."
The strategic hire aligns with Tokenize Xchange's aggressive expansion plans, which include growing its Singapore team and enhancing compliance and operations. The company is committed to fostering trust and transparency in the digital asset ecosystem, a crucial aspect given recent challenges in the sector.
Tokenize Xchange has established itself as a regional leader in digital asset trading across Southeast Asia. The company operates under an exemption from the Monetary Authority of Singapore and has received approval from the Securities Commission Malaysia, where it is the second-largest digital asset exchange. It is also pursuing regulatory licenses in other Southeast Asian countries, underscoring its dedication to regulatory excellence.
Mak's role will be pivotal in driving innovation and ensuring alignment with regulatory standards across the Asia-Pacific region. "The digital asset space is at a critical inflection point," Mak noted. "Tokenize Xchange has the vision, the backing, and now the expanded leadership to not just participate in this new era but define it."
