<a href="https://www.theedgesingapore.com/tags/digiassets-exchange-singapore-sdax"  target="_blank">Digiassets Exchange (Singapore) (SDAX)</a> has obtained its recognised market operator (RMO) licence from the Monetary Authority of Singapore (MAS) to operate a digital asset exchange on Sept 10.

SDAX had received an approval-in-principle from MAS back in February.

<i><strong>See also: <a href="https://www.theedgesingapore.com/news/disruption-and-digitalisation/sdax-receives-approval-principle-mas-launch-digital-asset"  target="_blank">SDAX receives approval-in-principle from MAS to launch digital asset exchange</a></strong></i>

“With Singapore’s status as a trusted financial hub and her forward-looking policies and regulations, home-grown financial technology companies like SDAX have the edge to seize opportunities in the global digital asset economy,” says Khoo Boon Hui, chairman of SDAX.

“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. We have trusted technology to tokenise 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,” he added.

Raymond Poh, CEO of SDAX, says the exchange’s first priority is the real estate market, where it has a live deal flow ready for security tokenisation. “We are all geared towards the launch of SDAX’s first real estate token listing in 2021,” he says.

Poh further highlights that as part of its overall growth roadmap, SDAX will expand its regional footprint as well as its digital financial product offerings to include ETFs, equities, bonds, and derivatives in both the traditional and new economy asset classes.

In May, SDAX entered into an agreement to merge with Minterest to create SDAX Financial, an integrated digital financial services platform. According to SDAX, the mission of the combined entity is to build a global fintech powerhouse enhancing efficiency, accessibility and equal opportunity to capital markets and alternative investments by leveraging on blockchain technology.

The SDAX exchange remains independently managed with oversight by its own board of directors and panel of advisors. RHTLaw Asia advised SDAX on its RMO licence application.

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Digital asset exchange SDAX receives RMO licence from MAS

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