Today Bloomberg reported that the Singapore Exchange (SGX) plans to offer perpetual Bitcoin futures in the second half of 2025. They will only be available to institutions and professional investors.
Perpetual futures have no expiry date, and the crypto derivatives first popularized by the Bitmex crypto exchange. Bloomberg previously reported that Japan’s Osaka Dojima Exchange is also planning perpetuals.
Singapore institutions have plenty of crypto choices
In Singapore there are already multiple venues for institutions to trade perpetuals. At the start of 2024, AsiaNext started offering derivatives trading. It’s a joint venture between Switzerland’s SIX stock market and SBI Digital Asset Holdings, the subsidiary of the Japan’s SBI Holdings. Initial participants include SBI owned market maker B2C2 and Wintermute.
A few months later, EDXM Global launched similar services in Singapore. It’s a subsidiary of US-based EDX Markets which was founded by Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, alongside venture capital firms.
AsiaNext and EDXM offer perpetuals for Bitcoin and Ether. EDXM trading pairs are against stablecoins USDT and USDC, whereas AsiaNext is in dollars. AsiaNext also offers calendar futures.
SGX expands its crypto, blockchain reach
To date SGX’s interest has been more towards blockchain and tokenization. In 2021 alongside government owned Temasek, it co-founded Marketnode, the operator of the FundNode blockchain infrastructure. HSBC and Euroclear subsequently invested in the venture.
SGX was a founding investor in the DBS Digital Exchange for both tokenized securities and cryptocurrency, although activities have primarily involved crypto.
