[{"data":1,"prerenderedAt":219},["ShallowReactive",2],{"/blog/how-to-raise-with-tokens-malaysia-guide":3},{"id":4,"title":5,"author":6,"authorPic":7,"body":8,"category":208,"coverPics":18,"date":209,"description":210,"extension":211,"meta":212,"navigation":213,"path":214,"seo":215,"stem":216,"type":217,"__hash__":218},"blogs/blog/how-to-raise-with-tokens-malaysia-guide.md","The regulated playbook: how to raise funds with tokens in Malaysia","Malaysia Blockchain Association Team","https://api.dicebear.com/7.x/avataaars/svg?seed=mba-team-3",{"type":9,"value":10,"toc":196},"minimark",[11,19,22,27,30,55,62,66,92,95,99,109,119,129,133,136,140,153,158],[12,13,14],"p",{},[15,16],"img",{"alt":17,"src":18},"Raising with tokens","/img/blog/gen/how-to-raise-with-tokens-malaysia-guide.svg",[12,20,21],{},"Most founders don't know this: Malaysia is one of the few countries in the world where a company can legally raise capital from the public by issuing digital tokens — through a regulated channel, with a rulebook, and now with a proven path all the way to secondary trading. Here is how the route actually works.",[23,24,26],"h2",{"id":25},"the-two-doors","The two doors",[12,28,29],{},"All public token fundraising runs through platforms registered with the Securities Commission under its Guidelines on Digital Assets. There are two, and they serve different issuers:",[31,32,33,45],"ul",{},[34,35,36,40,41,44],"li",{},[37,38,39],"strong",{},"pitchIN (Pitch Platforms Sdn Bhd)"," — Token Crowdfunding (TCF). The natural door for consumer and platform businesses issuing ",[37,42,43],{},"utility tokens",": rewards, memberships, access, fee discounts. If your token is part of your product, start here.",[34,46,47,50,51,54],{},[37,48,49],{},"KLDX (Kapital DX Sdn Bhd)"," — Initial Exchange Offerings of ",[37,52,53],{},"asset-backed tokens",": tokenised equity, fixed income and funds, including Shariah-compliant structures. If your raise looks like a capital-markets instrument on new rails, this is your door.",[12,56,57,58,61],{},"There is no third door. Selling tokens to the Malaysian public outside a registered platform is an offence carrying up to ",[37,59,60],{},"RM10 million in fines and 10 years' imprisonment",".",[23,63,65],{"id":64},"the-numbers-that-define-your-raise","The numbers that define your raise",[31,67,68,79,85],{},[34,69,70,71,74,75,78],{},"Raise up to ",[37,72,73],{},"RM100 million",", capped at ",[37,76,77],{},"20 times shareholders' funds"," within any 12-month period.",[34,80,81,82,61],{},"Issuers need at least ",[37,83,84],{},"RM500,000 in paid-up capital",[34,86,87,88,91],{},"You can take money from ",[37,89,90],{},"retail, sophisticated and angel investors"," — retail investors within prescribed investment limits, which in practice gives you a wide, small-cheque base.",[12,93,94],{},"The platform is your gatekeeper, not just your storefront: it must assess your \"digital value proposition,\" scrutinise your whitepaper disclosures and complete due diligence before your offering goes live. Budget real time for this — the vetting is the point of the regime.",[23,96,98],{"id":97},"what-the-completed-deals-teach","What the completed deals teach",[12,100,101,104,105,108],{},[37,102,103],{},"BidNow (pitchIN, 2024)"," — Malaysia's first public token raise. The auction platform offered its $BID utility token and hit its full ",[37,106,107],{},"RM10 million target from 469 investors in roughly eight weeks",", after clearing a RM5 million minimum. Lesson: a working consumer business with a token that does something real can raise at genuine scale from the crowd.",[12,110,111,114,115,118],{},[37,112,113],{},"Integra Healthcare (KLDX, 2024)"," — the ",[37,116,117],{},"RM150 million i-INT Programme",", a tokenised Shariah-compliant fixed-income offering with a profit rate of up to 10% per annum, whose first RM29 million tranche was fully subscribed by institutions. Lesson: on the KLDX side, tokenisation is winning over exactly the conservative money you'd expect to be last.",[12,120,121,124,125,128],{},[37,122,123],{},"The $BID listing (2025)"," — the part that completes the picture. BidNow's token later listed on ",[37,126,127],{},"Hata Global and Coinstore"," under the pitchIN–Hata partnership, making it the first Malaysian IEO token to reach exchange trading. Investors in a regulated Malaysian token raise now have something almost no other market offers them: a regulated exit.",[23,130,132],{"id":131},"honest-caveats","Honest caveats",[12,134,135],{},"Only one public TCF campaign has completed so far — the pipeline is younger than the framework, and a second deal will tell us more than the first did. Disclosure obligations are closer to an IPO prospectus than a whitepaper-as-marketing exercise. And your token's utility must survive a sceptical committee, not a bull market.",[23,137,139],{"id":138},"where-the-association-fits","Where the association fits",[12,141,142,143,148,149,61],{},"If you are weighing a token raise — or deciding between equity crowdfunding and TCF — we can point you to the platforms, the precedents and members who have been through the process. Write to us at ",[144,145,147],"a",{"href":146},"mailto:hello@malaysiablockchain.org","hello@malaysiablockchain.org",", and check who is licensed at any time on our ",[144,150,152],{"href":151},"/regulated","regulated entities registry",[154,155,157],"h3",{"id":156},"references","References",[31,159,160,168,175,182,189],{},[34,161,162],{},[144,163,167],{"href":164,"rel":165},"https://www.sc.com.my/regulation/guidelines/digital-assets",[166],"nofollow","Securities Commission Malaysia — Guidelines on Digital Assets",[34,169,170],{},[144,171,174],{"href":172,"rel":173},"https://www.sc.com.my/resources/media/media-release/sc-registers-two-initial-exchange-offering-ieo-operators",[166],"SC — \"SC Registers Two Initial Exchange Offering (IEO) Operators\" (23 Mar 2022)",[34,176,177],{},[144,178,181],{"href":179,"rel":180},"https://fintechnews.my/45927/crowdfunding-malaysia/malaysias-first-token-crowdfunding-pitchin/",[166],"Fintech News Malaysia — \"Malaysia's first token crowdfunding completed\" (22 Aug 2024)",[34,183,184],{},[144,185,188],{"href":186,"rel":187},"https://fintechnews.my/43761/wealthtech-malaysia/kapital-dx-debuts-rm150-million-tokenised-shariah-compliant-offering/",[166],"Fintech News Malaysia — \"Kapital DX debuts RM150 million tokenised Shariah-compliant offering\" (2 Apr 2024)",[34,190,191],{},[144,192,195],{"href":193,"rel":194},"https://fintechnews.my/47484/blockchain/bidnow-bid/",[166],"Fintech News Malaysia — \"$BID lists on Hata Global and Coinstore\" (6 Jan 2025)",{"title":197,"searchDepth":198,"depth":198,"links":199},"",2,[200,201,202,203,204],{"id":25,"depth":198,"text":26},{"id":64,"depth":198,"text":65},{"id":97,"depth":198,"text":98},{"id":131,"depth":198,"text":132},{"id":138,"depth":198,"text":139,"children":205},[206],{"id":156,"depth":207,"text":157},3,"Insights","2026-07-25","Malaysia is one of the few countries where a company can legally raise capital by issuing tokens to the public — through a regulated platform, with real investor protections and now a working secondary market. Here is how the route actually works, and what the first completed deals teach.","md",{},true,"/blog/how-to-raise-with-tokens-malaysia-guide",{"title":5,"description":210},"blog/how-to-raise-with-tokens-malaysia-guide","blog","zpOpP5W4JuNxhy7IMQdaUNLpaNCBfMMSF4Yk0XJM-X8",1785945468557]