MAS allows SDAX to operate digital asset exchange

The platform makes use of blockchain technology to power its exchange processes.

Digiassets Exchange (Singapore), or SDAX, has received an Approval-in-Principle (AIP) from the Monetary Authority of Singapore (MAS) to operate a digital asset exchange, according to a press release.

The institutional grade digital asset trading platform makes use of blockchain technology to power its exchange processes.

SDAX said it aims to serve as a global market offering digitised debt, equity, and hybrid instruments with high-quality real estate as the underlying asset class.

Investors will be required to meet Know-Your-Customers (“KYC”) and Anti Money Laundering (“AML”) standards to access SDAX’s 16-hour daily trading covering all major markets with T+0 settlement.

“Singapore is a globally trusted financial hub with strong government support for fintech and blockchain technology, backed by a forward looking and comprehensive regulatory framework to govern digital finance,” noted SDAX advisory panel chairman Mah Bow Tan. “These factors will give the global market significant confidence in home-grown digital asset exchanges like SDAX.”

The digital asset exchange platform is backed by the RHT Group of Companies, a Singapore-based professional services firm that also has a fintech and legal arm. SDAX reportedly leveraged the RHT ecosystem of legal, fintech and professional services during its development.

RHTLaw Asia’s Financial Services (Regulatory) practice advised on SDAX’s RMO licence application, whilst RHT Compliance Solutions is SDAX’s compliance partner.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

A new canvas: Why artists are jumping into the NFT space
Entering the digital space allows an artist to earn more through royalties each time their art sells.
Recurring mega sales have their own dangers
An expert from Intrepid warned against ‘shopper fatigue’ triggered by frequent large-scale shopping events.