World Bank Group member International Finance Corporation (IFC) is investing 155.6 million ringgit (about $40 million) in Malaysian public blockchain platform Zetrix AI Berhad, formerly MY E.G. Services, according to an announcement.
The equity investment aims to support the rollout of blockchain-based digital public infrastructure applications and AI-enabled products in Malaysia and other emerging markets, IFC said.
In Malaysia, Zetrix AI’s planned services are expected to link into the country’s digital ecosystem through MyDigital ID, the national digital identity system, and the Malaysia Blockchain Infrastructure (MBI), a national blockchain service network, the company said.
“This investment reflects IFC’s commitment to advancing Malaysia’s digital transformation agenda, in line with the Thirteenth Malaysia Plan, 2026-2030,” Judith Green, the World Bank Group’s country manager for Malaysia, said.
Green added that the development of Digital Public Infrastructure services is essential to improving public service delivery, strengthening economic competitiveness, and ensuring that growth is inclusive and sustainable.
“Investments like this allow us to scale innovative digital solutions and support the creation of resilient, secure, and interoperable systems,” she added.
Zetrix AI, formerly known as MY E.G. Services Berhad, said the funding will help develop applications spanning digital identity verification, the digitalisation of international trade processes, and the tokenisation of real-world assets, among other use cases.
TS Wong, group managing director of Zetrix AI, said the company’s blockchain and AI use cases, from digital IDs and customs digitalisation to large language models and stablecoins, are aimed at accelerating transformation and deeper integration across ASEAN.
“With the participation and market access from IFC, we will accelerate our global expansion plans,” Wong said.
IFC has been stepping up investments in Malaysia, with multiple deals disclosed so far this year alongside its equity investment in Zetrix AI.
In January, IFC disclosed a $34 million equity investment in Asia Pacific University of Technology & Innovation (APU), structured as a co-investment alongside Creador VI Fund.
Separately, IFC is considering an investment of up to $150 million in OCI TerraSus Sdn. Bhd. to help finance a $474 million joint venture with Japan’s Tokuyama Corp to build a semiconductor-grade polysilicon facility in Bintulu, Sarawak.
