Zetrix secures $40 million investment to spin off AI subsidiary for NASDAQ listing

According to Bloomberg, Malaysian digital infrastructure service provider Zetrix AI Bhd has secured approximately $40 million in equity financing from the World Bank's investment arm, International Finance Corp, to expand digital infrastructure in Malaysia, Southeast Asia, and other emerging markets.

The two parties will collaborate through a subsidiary that plans to be listed on Nasdaq to advance projects, supporting the national digital identity system and blockchain service network in Malaysia, among others. Zetrix Managing Director TS Wong stated that its AI business unit, AI Foundation Lab, aims to complete its Nasdaq listing by the end of 2026.

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