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ADDX, Singapore’s digital securities trading platform, this morning announced a $58 million funding round, ahead of Series B.
The new shareholders include: SET Venture Holding, a subsidiary of the Stock Exchange of Thailand; UOB; Hamilton Lane; and Krungsri Finnovate. Investment amounts were not disclosed.
According to the press release, the money will go to the development of the company and geographical expansion. ADDX has several initiatives, including those aimed at bridging the gap between traditional financial operators and digital asset operators.
The firm uses blockchain technology to separate investments in private equities, hedge funds, bonds and other asset classes.
The Monetary Authority of Singapore (MAS) has granted ADDX licenses for the issuance, custody and secondary trading of digital securities.
To date, it has raised about $120 million, most of which came in the Series A round, worth $50 million, in January 2021. The Singapore Exchange and Heliconia Capital, a subsidiary of sovereign wealth fund Temasek, are shareholders in the firm.
“ADDX’s mission is to democratize private markets,” said Oi-Yi Chu, CEO of ADDX. “The new shareholders are not only capital partners, but also strategic partners. They can make a big contribution in the form of knowledge, ideas, market experience and business connections, and ADDX hopes in return to add value to their business.”
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