The World Bank Group’s International Finance Corporation has made a US$40 million equity investment in Zetrix AI Berhad, a publicly listed Malaysian digital infrastructure company, to fund the development of blockchain-based digital public infrastructure and AI-enabled products in Malaysia and across ASEAN. The deal, announced on February 25, 2026, also positions Zetrix AI’s subsidiary AI Foundation Lab for a planned Nasdaq listing by year-end 2026.
Key Facts At A Glance
- Investor: International Finance Corporation, the private sector arm of the World Bank Group
- Investment amount: US$40 million, equivalent to RM155.6 million
- Investment type: Equity stake of approximately 2.5%, via issuance of 199.5 million new shares to IFC
- Company: Zetrix AI Berhad, formerly known as MY E.G. Services Berhad, publicly listed in Malaysia
- Primary use of funds: Development and rollout of blockchain-based Digital Public Infrastructure applications and AI-enabled products in Malaysia and ASEAN
- Integration targets: Malaysia’s MyDigital ID national digital identity system and the Malaysia Blockchain Infrastructure national blockchain service network
- Planned listing: AI Foundation Lab subsidiary targeting Nasdaq listing by end of 2026
- Alignment: Supports Malaysia’s Thirteenth Malaysia Plan, 2026–2030
The Investment
On February 25, 2026, the International Finance Corporation announced an equity investment of RM155.6 million, equivalent to US$40 million, in Zetrix AI Berhad, a publicly traded digital infrastructure firm listed on Bursa Malaysia. Under the terms of the agreement, Zetrix AI will issue 199.5 million new shares to IFC, giving the development institution a stake of approximately 2.5% in the company. The transaction makes IFC one of Zetrix AI’s institutional shareholders and represents one of several equity investments IFC has disclosed in Malaysia in early 2026.
The funds are designated for the development and rollout of blockchain-based Digital Public Infrastructure applications and AI-enabled products aimed at improving digital inclusion, access to services, and economic efficiency in Malaysia and the broader ASEAN region. IFC and Zetrix AI have also structured their agreement to support ASEAN-wide expansion through a subsidiary currently being prepared for a public listing on the Nasdaq exchange.
What Zetrix AI Does
Zetrix AI Berhad, formerly known as MY E.G. Services Berhad, began operations in 2000 as an electronic government services provider in Malaysia. The company has since repositioned itself around blockchain and AI infrastructure, operating its own Layer-1 blockchain platform called Zetrix, which serves as the technical foundation for its products and services.
A central component of Zetrix AI’s operations in Malaysia is its role within the Malaysia Blockchain Infrastructure, a national blockchain service network developed in collaboration with MIMOS Berhad, Malaysia’s national applied research and development agency, and overseen by the Ministry of Science, Technology and Innovation. The Malaysia Blockchain Infrastructure uses the Zetrix blockchain as its core chain and is designed as a foundational layer for public and private sector blockchain applications, including digital identity verification, supply chain traceability, and verifiable credentials. In January 2026, the Malaysia Blockchain Infrastructure formally endorsed Zetrix’s blockchain-based age verification solution for social media platforms as Malaysia moves to implement a minimum age threshold of 16 for social media access.
Planned Use Cases
Through the IFC investment, Zetrix AI has outlined several categories of Digital Public Infrastructure products it intends to develop and deploy. These include digital identity verification through integration with MyDigital ID, Malaysia’s national digital identity system; digitisation of international trade processes and customs clearance; and the tokenisation of real-world assets. The company also indicated plans to develop specialised agentic AI models and AI-powered applications for both public and private sector clients.
Zetrix AI is already active in Indonesia and the Philippines, and Group Managing Director TS Wong confirmed that the company intends to replicate and scale its Malaysia model across ASEAN and into broader emerging markets. Wong noted the company plans to use IFC’s presence in 108 countries and its relationships with governments as a pathway for international expansion.
Nasdaq Listing Plans
Alongside the IFC investment, Zetrix AI announced that its subsidiary AI Foundation Lab intends to pursue a listing on the Nasdaq stock exchange. Wong confirmed the company is targeting completion of the listing by end of 2026, citing Nasdaq’s access to a global investor base with appetite for technology infrastructure investments. The listing would make AI Foundation Lab a separately traded entity from the parent company’s Bursa Malaysia listing.
Alignment With Malaysia’s National Digital Agenda
IFC’s World Bank Group Country Manager for Malaysia, Judith Green, stated that the investment aligns with Malaysia’s Thirteenth Malaysia Plan covering the period 2026 to 2030, which emphasises digital transformation, inclusive growth, and economic competitiveness. The investment adds institutional capital to Malaysia’s nationally coordinated digital infrastructure buildout at a time when the country is advancing multiple digital public systems simultaneously, including its national digital identity framework and the Malaysia Blockchain Infrastructure.