Yesterday AsiaNext – the joint venture between Japan’s SBI and Switzerland’s SIX – received its license as a Recognised Market Operator (RMO) from the Monetary Authority of Singapore. This could present a breakthrough for tokenized securities, enabling global liquidity.
When the London Stock Exchange outlined its tokenization plans this week, it said the ultimate goal was a global platform. AsiaNext’s CEO, Chong Kok Kee, outlined a similar vision last year. With this license, the company is now on its way to making it happen with the ability to provide listing, trading and post trade services in Singapore. And with potential linkages worldwide.
The new license allows AsiaNext to operate a secondary market for digital securities and funds. It follows the in-principle approval of a Capital Market Services (CMS) license in June, allowing the company to provide custody services, amongst other functions. It has also applied for a license as a Major Payment Institution.
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