Last week SBI Digital Markets and Securitize announced plans to jointly build a digital asset issuance and distribution platform in Singapore, starting with tokenized bonds in November.
SBI Digital Markets, a subsidiary of SBI Digital Asset Holdings (SBI DAH), received its capital markets services (CPM) license from the Monetary Authority of Singapore (MAS) in September.
Together the companies will target blockchain-based issuance and distribution services targeting institutional investors. SBI Holdings invested in Securitize in 2019.
There’s a need for a marketplace for tokenized assets as well. SBI Digital Assets Holdings has a joint venture with the SIX Digital Exchange (SDX) for AsiaNext, a Singapore exchange for secondary market trading of both cryptocurrencies and tokenized securities. AsiaNext will collaborate with SBI Digital Markets, but not on an exclusive basis.
Securitize has been involved in several tokenizations of private company stock. More recently, it has been part of several tokenized fund issuances. These include tokenizing part of a KKR fund, collaborating with investment manager Hamilton Lane for a tokenized feeder fund, as well as an art fund.