Monetary Authority Of Singapore Grants CapBridge RMO Private Exchange License
CapBridge Pte Ltd., a global private capital firm, recently announced that it has received approval and licensure from the Monetary Authority of Singapore (MAS) to operate a securities exchange business in the country. It will do this through an associated entity, CapBridge Platform Pte Ltd. The securities exchange platform will be known as 1exchange and get the designation 1X.
A Huge Leap Forward
1X is officially one of the first few private security exchanges to be regulated by the MAS. Its early entrance into the highly lucrative market will open up a host of opportunities for the company to carve out the market before the competition starts heating up.
CapBridge also couldn’t have chosen a better location in Asia. Singapore is one of the fastest growing countries in the world – it has established itself financially on the global stage in just about 60 years. To this end, it is considered a global financial hub and more and more investors are venturing into the market with each passing day. It will also function as a gateway to the rest of Asia – needless to say, many Asian markets including Japan and South Korea are very lucrative.
Helping Growth Companies Come Up
CapBridge is currently working with ConsenSys, a global leader in Blockchain technology, to develop an exchange platform. The platform will be built on the Ethereum public Blockchain platform and all protocols will be implemented to ensure that it is compliant with all regulations. Once fully developed, the platform will list and trade a wide range of assets including security tokens. This is expected to open up a world of opportunities for both upcoming companies and interested investors.
The most interesting things about Blockchain-based startups that will be listed on 1X is that they will remain private – investors will still get proof of shares to the companies but ownership will be limited to the companies’ founders.
Additionally, the 1X platform will be designed to catalyze liquidity for all companies listed on the platform. CapBridge will adopt a holistic approach to ensure optimal flow of capital and expedite the growth of these companies. It will also open up more lucrative opportunities to interested investors looking for alternative channels of growth.
Mr. Johnson Chen, the CEO and Founder of CapBridge Pte Ltd. was very excited about the licensure and had a lot to say about it. He was particularly confident that the company’s holistic approach would open up more funding opportunities to upcoming Blockchain startups and offer interested investors more investment opportunities. He also promised to work closely with MAS to help improve the entire ecosystem.
The approval and licensing of CapBridge Pte Ltd. to operate a private securities exchange in Singapore took effect on 21st November 2018. The companies that stand to benefit include venture-backed, late-state companies whose employees and shareholders are seeking to monetize their shares; private companies in need of capital or seeking liquidity for their investors; and family businesses planning for management transition or seeking to diversify their shareholders’ base.