The Monetary Authority of Singapore has issued a license to AsiaNext, a digital asset exchange joint venture formed by Switzerland’s SIX Group.
AsiaNext has been officially licensed by the Monetary Authority of Singapore (MAS) as a Recognized Market Operator (RMO), according to a statement. This will allow the firm to operate an organized market for securities and collective investment schemes. In June, it also received an in-principle approval for a Capital Markets Services (CMS) license.
«We view this recognition by MAS as a positive shift in the industry, where firms that are able to responsibly contribute to a safe digital asset ecosystem can now realize their ambitions for the mainstream adoption of digital assets,» said AsiaNext CEO Chong Kok Kee.
SIX Joint Venture
Established in 2021, AsiaNext is a joint venture formed by Swiss market operator SIX Group as well as SBI Digital Asset Holdings, an arm of Tokyo-based financial firm and SoftBank spinoff, SBI Group.
The digital asset exchange exclusively targets institutions and will look to serve as a venue for banks, family offices, asset managers, broker-dealers, prime brokers, hedge funds and market makers. Following the obtainment of the RMO and CMS (in-principle) licenses, AsiaNext will provide integrated listing, trading and post-trade services for digital assets.
Favorable For Fintech Firms
«The regulatory environment in Singapore is favorable for fintech firms, which is why we have selected it as the headquarters for AsiaNext. The nation's commitment to fostering innovation and worldwide recognition of Singapore's economic potential as a global digital asset trading hub have been pivotal factors in our decision,» added SBI Digital Asset Holdings CEO Fernando Luis Vázquez Cao.
