Sygnum Singapore Gets In-Principle Approvals to Expand Digital Asset Offeringsby Fintech News Singapore March 9, 2022
Sygnum, the digital asset technology group based in Singapore and Switzerland, has received in-principle approvals from the Monetary Authority of Singapore to expand its digital asset product offerings.
The company already has an existing Capital Markets Services (CMS) license and will now be able to conduct three additional regulated activities under it.
Upon obtaining full approval to conduct the additional activities, Sygnum will be able to provide asset managers and Web3 players in Singapore a fully-regulated capital raising solution covering the entire value chain.
Sygnum will be able to provide corporate finance advisory services to companies seeking to raise capital.
This includes the technical expertise to tokenise capital markets products and digital assets, as well as digital asset focused legal and capital structuring advice
Additionally, Sygnum will be able to provide access to a wider base of accredited and institutional investors in Singapore seeking fully-regulated investment opportunities into tokenized capital market products and digital assets.
The firm will also offer custodial services for asset and security tokens.
Sygnum intends to focus initially on the tokenisation of fund units, starting with its recently-launched SBI-Sygnum-Azimut Digital Asset Opportunity fund.
This will enable accredited and institutional investors to subscribe to the fund with significantly smaller ticket sizes.
Sygnum’s future initiatives include providing corporate finance advice to Web3 platforms and digital creators, and to securitise their rare digital collectibles, non-fungible tokens (NFTs) and metaverse assets like in-game items and virtual land.
“With the recent conclusion of our Series B fundraise, we are committed to accelerating the expansion of our suite of offerings in the financial hub.
These three additional activities that Sygnum will be able to conduct enable us to provide asset managers and Web3 players in Singapore a new, fully-regulated platform to raise capital and attract a wider investor base by leveraging blockchain technology.”
said Gerald Goh, Sygnum Co-Founder and Singapore CEO.
Featured image: Edited from Unsplash