AsiaNext, a digital asset exchange for institutional investors, announced that it has secured a license as a Recognised Market Operator (RMO) from the Monetary Authority of Singapore (MAS).

The license allows AsiaNext to operate an organised market for securities and collective investment schemes. It sits alongside the company’s in-principle approval for a Capital Markets Services (CMS) license from MAS, which was granted on 14 June 2023.

Founded in 2021 by SBI Digital Asset Holdings and SIX Group, AsiaNext aims to serve banks, family offices, asset managers, broker dealers, prime brokers, hedge funds and market makers seeking to engage in digital assets.

SBI Digital Asset Holdings is participating in Project Guardian, a collaborative initiative amongst leading finance firms spearheaded by MAS, which has now been expanded to test the potential of asset tokenisation across more financial asset classes.

Fernando Luis Vázquez Cao, CEO, SBI Digital Asset Holdings said,

“The regulatory environment in Singapore is favourable for fintech firms, which is why we have selected it as the headquarters for AsiaNext.

 

The nation’s commitment to fostering innovation and worldwide recognition of Singapore’s economic potential as a global digital asset trading hub have been pivotal factors in our decision.”

Chong Kok Kee, Chief Executive Officer of AsiaNext said,

“We are elated to have received the full RMO license from MAS this week. Since our inception, the team has worked tirelessly to construct an institutional-grade exchange based on stringent compliance and risk management standards that govern our entire organisation as well as the multi-asset classes that will be traded on our venue.

 

We view this recognition by MAS as a positive shift in the industry, where firms that are able to responsibly contribute to a safe digital asset ecosystem can now realise their ambitions for the mainstream adoption of digital assets.”