Singapore-based digital asset exchange SDAX has obtained its Recognized Market Operator (RMO) license from the Monetary Authority of Singapore (MAS) to operate a digital asset exchange, the company said this week. SDAX believes the use of blockchain in capital markets will create new opportunities for both fundraising and investing
The exchange allows global asset owners to unlock the value of their assets by tokenizing and listing their assets on the exchange to efficiently raise funds from a pool of qualified investors. SDAX is backed by RHT Group of Companies. A secondary market trading platform, SDAX uses blockchain technology to improve efficiency, create liquidity and offer greater access to previously out-of-reach alternative investment products for accredited and institutional investors.
The first priority for SDAX is real estate, where it said it has a live pipeline of deals ready for security tokenization. It hopes to have its first real estate token listing available before the end of this year. Also on the to-do list is an expanded product list featuring ETFs, equities, bonds, and derivatives.
In May SDAX agreed to merge with Minterest, a digital investing platform, to create SDAX Financial, an integrated digital financial services platform. The ultimate goal is to build a true digital asset ecosystem. Minterest already holds a Capital Markets Service licence from the MAS to deal in capital market products and Minterest Money holds a licence to provide personal loans.
“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,” SDAX chairman Khoo Boon Hui said. “We have trusted technology to tokenize 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,”