Last week the Singapore Exchange (SGX) and state-backed investment company Temasek unveiled a new digital asset exchange joint venture initially targeting bonds. Today they announced the platform is called Marketnode and it’s partnering with Covalent Capital, which provides bond issuance software. Together the two platforms create an end to end solution.
Singapore’s Covalent Capital has its Order Manager and Allocation System (OMAS) system for book building. It’s a cloud-based solution that doesn’t use blockchain. On the other hand, the Marketnode platform uses blockchain to tokenize the assets for listing, trading and post-trade processes.
Covalent has a close relationship with the regulator, the Monetary Authority of Singapore (MAS), from where it secured some funding.
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