Singapore-based fintech firm FOMO Group has brought Singapore Exchange (SGX Group) on board as a shareholder, adding to its roster of blue-chip investors. Financial terms of the deal were not made public.
The move follows SGX Group’s earlier investments in CapBridge and 1exchange, which sit under the FOMO Group umbrella.
FOMO Group, founded in 2015, spans digital payments, cross-asset investment, tokenisation of real-world assets and digital capital markets infrastructure.
It owns three licensed financial institutions that operate independently: FOMO Pay, CapBridge and 1exchange.
FOMO Pay is a major payment institution licensed in Singapore, Hong Kong and the United Arab Emirates, providing global collection and payout solutions.
CapBridge offers digital investment products across funds, bonds, equities and insurance, while 1exchange focuses on the tokenisation and trading of real-world assets.
SGX Group became a shareholder through a share exchange.
FOMO Group said SGX Group’s experience in capital markets complements its own capabilities in areas such as tokenised asset listings, stablecoin-based settlement, digital capital markets infrastructure and cross-border market connectivity.
Louis Liu, Group CEO of FOMO Group, said,
“We are excited to welcome SGX Group as our newest shareholder. This represents a vote of confidence in our strategy and an opportunity to collaborate with SGX Group, Asia’s leading and trusted securities and derivatives market infrastructure.
SGX Group’s deep expertise in capital markets, combined with our comprehensive digital finance capabilities, will unlock new possibilities for our merchants, corporates, and institutional clients.”
Amit Kedia, Executive Director, Finance and Corporate Development, SGX Group, said,
“In a region rapidly embracing digital finance, there is a growing need for innovation that strengthens the trust and resilience of our market infrastructure.
This presents opportunities for regulated interoperable solutions that enhance connectivity and efficiency across the ecosystem. FOMO Group is helping to build the foundation for the next generation of digital finance – seamless, secure and borderless financial experiences across the region.”
Featured image: Edited by Fintech News Singapore, based on image by brilian via Freepik
