Today Digiassets Exchange (Singapore), referred to as SDAX, said the Monetary Authority of Singapore had given it approval in principle (AIP) to launch a digital asset exchange.
SDAX is backed by RHT Group of Companies, an offshoot of Singapore’s sixth-largest law firm RHTLaw Asia. This isn’t the first legal firm to take an interest in digital assets beyond advice. Last year DLA Piper unveiled a security token platform TOKO, and Dentons also has an initiative.
“With the AIP from MAS, SDAX is now in a strong position to attract asset owners, accredited investors and institutional investors from around the world to our Singapore-based platform,” said SDAX Chairman, Mr Khoo Boon Hui. “SDAX will contribute to Singapore’s fintech sector by offering innovative solutions to raise funds and trade fractionalised and digitised assets like real estate.”
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