The Monetary Authority of Singapore (MAS) grants SBI Digital Markets the Capital Markets Services (CMS) License, according to its parent company SBI Digital Asset Holdings (DAH) based in Japan.
The company will be permitted to engage in regulated operations in Singapore’s capital market, such as providing custodial services for securities, fund management, real estate investment trust management, product financing, and many other benefits.
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Early in May 2022, the MAS gave SBI Digital Markets the In-Principle approval for its CMS license.
In a statement, SBI said that as part of its strategy, it would establish a platform for digital asset securities to provide traditional finance with advanced end-to-end solution options encouraged by the rise of digital assets in Singapore.
Winston Quek, CEO of SBI Digital Markets stated, “Being awarded this license and the backing of the SBI group sends a message that we are a first-choice institutional digital asset securities issuance platform to financial institutions in the region.”
Fernando Luis Vázquez Cao, CEO of SBI Digital Asset Holdings, SBI Security Solutions, and SBI DigiTrust noted, “This is an exciting milestone for SBI Digital Markets, which will play a major part in SBI DAH’s core mission to re-imagine and transform capital markets and banking value chains through the deployment of digital technology.”
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