During the Blockchain Week in Busan Korea, six digital asset exchanges unveiled the “Asia Digital Asset Exchange Alliance”. Mostly of the exchanges are involved with digital securities and real world asset (RWA) tokenization, but one also offers cryptocurrency. The thing they all have in common is they are regulated exchanges. Some of them are in the very early stages of market traction, but not all.
Singapore’s ADDX is likely the most experienced of the group regarding digital transactions under its belt. It’s raised $120 million in funding with its backers including the Singapore Exchange (SGS), Temasek, UOB, the Thai stock exchange SET, and asset manager Hamilton Lane.
Japan’s Osaka Digital Exchange (ODX) is bigger than ADDX, but most of its activities are conventional rather than digital securities. It has a digital securities trading arm, START, which launched at Christmans 2023, but is still quite small. ODX was founded by Japan’s SBI, with other backers including the Cboe, Nomura, SMBC and Daiwa Securities.
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