Home Capital Cryptocurrency

The great crypto pivot

Khairani Afifi Noordin & Chloe Lim
Khairani Afifi Noordin & Chloe Lim1/13/2022 4:0 PM GMT+08  • 20 min read
The great crypto pivot
With their existing businesses coming under strain, SGX-listed companies are pursuing opportunities in the digital assets space
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

In the mid-2010s, cryptocurrencies or digital assets were still very much perceived negatively due to their usage in the internet black market. While corporations have started to notice the potential behind their underlying technology, the risks associated with digital assets as well as its reputation caused them to be largely ignored by the market. However, as the cryptocurrency market gained legitimacy and started to enter the mainstream, a number of institutional investors came on board, seeing the opportunity to take a slice of the pie. Meanwhile, other larger companies have started to acquire or partner with cryptocurrency-related companies to venture into the arena.

In recent months, the number of Singapore-listed companies that jumped on the crypto bandwagon has grown. They have expanded into the digital assets business by investing in digital asset exchanges, entering the blockchain mining machine space as well as publishing non-fungible tokens (NFTs), among others.

SMI Vantage — formerly known as Singapore Myanmar Investco — was for years in a mixed bag of “traditional” businesses such as logistics, auto services, construction and running serviced offices. Its other key business was to operate retail outlets in Myanmar’s airports and when the coup happened in early 2020, its businesses took a hit.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.