Digiassets Exchange (Singapore) Pte Ltd (“SDAX”) announced that it has obtained its Recognised Market Operator (“RMO”) licence from the Monetary Authority of Singapore to operate a digital asset exchange.
SDAX, founded and headquartered in Singapore, is an institutional grade digital asset exchange that leverages blockchain technology to enable asset owners to unlock the value of their assets through tokenising and listing of asset-based digital securities, providing alternative fundraising and exit options.
As a secondary market trading platform, SDAX enhances efficiency, creates liquidity and offers greater access to previously out-of-reach alternative investment products for accredited and institutional investors.
Mr Khoo Boon Hui, Chairman of SDAX, said, “With Singapore’s status as a trusted financial hub and her forward-looking policies and regulations, home-grown financial technology companies like SDAX have the edge to seize opportunities in the global digital asset economy.”
“We believe SDAX is well positioned to open new possibilities for asset owners and investors in the fast-growing digital asset economy given the increasing demand for alternative investments. We have trusted technology to tokenise almost any asset class, including both tangible and intangible assets and an efficient, reliable and secure platform to trade such digital assets with greater liquidity,” he added.
Mr Raymond Poh, Chief Executive Officer of SDAX, said, “We are very excited to be part of the new digital era and SDAX will be a catalyst to the assets digitisation market. Taking a thematic approach, our first priority is to focus on the real estate market where we have a live deal flow ready for security tokenisation. We are all geared towards the launch of SDAX’s first real estate token listing in 2021.”
“Tokenisation is going to reform the financial industry as a key driver to drive new capital markets. As part of the overall growth roadmap, SDAX will expand its regional footprint as well as its digital financial product offerings to include ETFs, equities, bonds, and derivatives in both the traditional and new economy asset classes,” he added.