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Tokenize Xchange has hired a new chief strategy officer in the form of crypto and fintech veteran Carney Mak.
The move comes as part of Tokenize's expansion fuelled by a fundraising round of $11.5 million in March.
At the time, the exchange said it planned to grow its Singapore team from 20 to 100 staff over the next 18 months. A quarter of these new hires would be in compliance and operations.
$11.5 million was raised in its Series A, Phase 2 funding from TRIVE and other high-net-worth individuals, bringing the total Series A fundraising amount to $23 million. The exchange's goal is $33 million by year-end.
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Mak joins Tokenize as the exchange aims to catalyze its ambitious growth plans and brings his wealth of experience in fintech and crypto ventures at FXHB Asset Management.
"Carney's appointment is a game-changer for us," said 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 described joining Tokenize at this time as "like catching a rocket mid-flight," adding that the company's recent funding success and its commitment to regulatory excellence "create a perfect launchpad for innovation."
Tokenize operates under an exemption from the Monetary Authority of Singapore and has already received approval from the Securities Commission Malaysia. The firm said it is actively pursuing similar licenses in other Southeast Asian jurisdictions.
Mak will spearhead Tokenize's strategic initiatives across the Asia-Pacific region. Speaking to Blockhead about Tokenize's regional ambitions, Mak said, "While we're actively exploring opportunities across Southeast Asia, we're not ready to disclose specific countries at this time."
"Our approach is to carefully evaluate each market's regulatory landscape, user demand, and strategic fit with our long-term goals. In the coming months, we will unveil a series of new developments, strategic partnerships, and innovative initiatives that will further solidify our position in the market."
