SBI Digital Markets Receives Singaporean Capital Markets License

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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. 

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