|
|
|
|
|
SINGAPORE, Aug 4, 2020 - (ACN Newswire) - ECXX Global Pte. Ltd. (ECXX), a pioneer in operating digital asset exchange using blockchain technology, is pleased to announce that it has secured admission by the Monetary Authority of Singapore (MAS) to the Fintech Sandbox Express as a Recognised Market Operator (RMO).*
With the approval, ECXX targets the launch of blockchain-based digital securities exchange platform ecxx.co, which offers various asset-based digital securities such as real estate, private equity, venture capital and investment funds to institutional and accredited non-individual investors.
These digital securities could represent a share in the ownership of a real estate, a share in the ownership of a company or participation in an investment fund, and can then be traded on a secondary market. Tokenisation of assets refers to the process of issuing a blockchain token (specifically, a security token) that digitally represents a real tradable asset (such as real estate) - in many ways similar to the traditional process of securitisation.
With its own in-house proprietary system, ECXX has been operating a digital asset exchange that allows both professional traders and retail investors to buy, sell and store digital assets. Its digital exchange platform is integrated with MyInfo, the one-stop Singapore government identity platform, which allows seamless Know-Your-Customer checks on members of MyInfo, who can log-in to ECXX's digital asset exchange using their SingPass.
ECXX has also applied for a license under the Payment Services Act and once approved, it will be the first exchange in Singapore to offer both digital payment tokens and digital securities under two different platforms.
Commenting on this milestone, Mr Branson Lee, Chief Executive Officer of ECXX, said: "There are a multitude of applications of blockchain technology within the financial industry, and the tokenisation of assets has the potential to fundamentally change how we invest in assets.
"With S$3.4 trillion of assets under management in Singapore, we aim to utilise the Recognised Market Sandbox admission to develop our securities exchange platform and create asset-based securitised tokens that can be regulated and traded, paving the way for mainstream adoption."
Led by an experienced management team well versed in digital assets and the blockchain ecosystem, ECXX has been backed by prominent venture capital firms CapitalX, Epsilon Investment, Ariki Asia and ChainUp. In June 2020, Hatten Land announced a proposed investment of US$6 million for a 20% equity stake in ECXX.
Issued on behalf of ECXX Global Pte. Ltd. by 8PR Asia Pte Ltd.
Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
*https://www.mas.gov.sg/development/fintech/sandbox-express
Topic: Press release summary
Source: ECXX Global Pte. Ltd.
Sectors: Exchanges & Software, Daily Finance, Real Estate & REIT, Crypto, Exchange, Blockchain Technology
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| |
Latest Press Releases
Tat Hong Equipment Service Co., Ltd. Announces 2024/25 Interim Results
Nov 22, 2024 19:56 HKT/SGT
|
|
|
CleverTap Recognized as a 'Strong Performer' in the Cross-Channel Marketing Hubs, Q4 2024 Report
Friday, November 22, 2024 4:42:00 PM
|
|
|
Daeshin MC Co., Ltd. Unveils Its Clean Solutions Creating Pleasant Indoor Environments from Industrial Sites to Public Facilities 
Nov 22, 2024 11:00 HKT/SGT
|
|
|
Jacobson Pharma Announces FY2025 Interim Results
Nov 22, 2024 10:00 HKT/SGT
|
|
|
NaaS Q3 2024 Recap: Strategic Shifts and Tech Innovations for Growth
Thursday, November 21, 2024 9:59:00 PM
|
|
|
GMG Unveils SUPER G(R): A Game-Changing Graphene Solution for the Lithium-Ion Battery Industry
Nov 21, 2024 21:29 HKT/SGT
|
|
|
neurocare Group AG Welcomes Kevin Reeder as Chief Financial Officer
Nov 21, 2024 21:20 HKT/SGT
|
|
|
Experience the Power of Movement: Jin Pilates Brings Singapore's First Garuda Studio for Dynamic, Holistic Wellness
Nov 21, 2024 20:19 HKT/SGT
|
|
|
SGX-Listed Mooreast Appoints Norwegian Eirik Ellingsen as CEO to Drive Growth in Global Floating Offshore Wind Market
Nov 21, 2024 19:00 HKT/SGT
|
|
|
DesignInspire opens on December 5, with free admission for the public
Nov 21, 2024 17:54 HKT/SGT
|
|
|
|
|
More Press release >> |
|
|
|
