SBI Digital Markets Receives Singaporean Capital Markets License

Japan financial amalgamation SBI Digital Markets Pte. Ltd has announced that its subsidiary SBI Digital Asset Holdings has been granted a Capital Markets Services license by the Monetary Authority of Singapore. 

The green light to deal in capital market products will enable the conglomerate to carry out regulated activities in Singapore’s capital market, like advising corporate finance, fund management, real estate investment trust management, product financing, and many more custodial services for securities.

According to a statement released, SBI’s plan of action includes launching its own digital asset securities platform to bolster traditional finance with high-end solutions fueled by the growth of digital assets in Singapore.

“Being awarded this license and the backing of the SBI group sends a message that we are a first-choice institutional digital asset securities issuance platform to financial institutions in the region. Singapore’s financial regulatory system is most respected worldwide for its rigors and transparency. Hence, MAS’s license signals the standards at which we will operate to our potential partners.” said Winston Quek, Chief Executive Officer of SBI Digital Markets.

Focus on building digital ecosystem

The Monetary Authority of Singapore (MAS) requires SBI to champion capital markets digital assets and build an ecosystem targeted directly at the growing demand for public and private institutional digital assets as it enforces financial market regulations.
The company is also excited about the new development saying its markets will be significant in amplifying SBI DAH’s core mission to “re-imagine and transform capital markets and banking value chains through the deployment of digital technology.”

SBI Aiming to be Singapore’s largest equity firm

The Japanese securities and banking giant SBI DM was launched in 2020 to offer a crypto asset fund for retail investors, It now seeks to become an outstanding corporate trust and capital markets firm for digital assets business for banks in Singapore and beyond. The colossal private equity firm SBI Group also has many securities accounts in Japan. Over 200 affiliates across 21 markets, bridging diverse companies such as Financial Services, Asset Management, and Biotechnology.

As the investment firms expand, Digital Asset remains one of the most handful investments in east Asia which includes Japan and South Korea. According to exchange association data, cryptocurrency transactions for 2022 have doubled from the previous year whose value stood at 77 trillion yen in Japan.

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

The post SBI Digital Markets Receives Singaporean Capital Markets License appeared first on BeInCrypto.

Related Posts

European Parliament members vote in favor of crypto and blockchain tax policies

The resolution recommended authorities in the parliament’s 27 member states consider a “simplified tax treatment” for crypto users involved in occasional or small transactions. Members of the…

If Credit Suisse collapses, will it bring more volatility to the crypto market? Watch The Market Report

On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the Credit Suisse situation and what impact it would have on the cryptocurrency market if…

Mastercard Debuts Blockchain Surveillance Tool for Banks and Crypto-Centric Card Issuers

On Tuesday, the multinational financial services corporation Mastercard revealed that it is launching a new crypto monitoring product called Crypto Secure. The Crypto Secure software aims to…

Crypto Nomads Start to Settle Down as Threat from Pandemic Subsides and Prices Tumble

Some crypto nomads have decided to settle down following the COVID-19 pandemic, despite the decentralized lifestyle being somewhat conducive to the industry. To investigate the recent phenomenon,…

DeSo: The Answer To Elon Musk and Jack Dorsey’s Call for a Decentralized Social Media?

DeSo, a decentralized social blockchain, recently announced the release of its ambitious roadmap to decentralize social media and build the social layer of Web3. The released roadmap…

Shiba Inu (SHIB) Introduces Canyon HUB For SHIB: The Metaverse

The developer team of SHIB: The Metaverse posted more conceptual black & white artwork for the third upcoming HUB in the Web3 series. The Canyon HUB, as…

Generated by Feedzy