Crypto Unit of Japan's SBI Wins Capital Markets License in Singapore
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Loading... - Chiaki Makino
- 27 Sep 2022
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SBI Digital Markets, a subsidiary of the digital asset arm of Japan's financial services giant SBI Holdings, has been granted a Capital Markets Services (CMS) license to offer securities and futures trading services in Singapore, according to a Thursday announcement.
SBI Digital Markets plans to launch an institutional-grade digital asset securities platform which would allow traditional financial service operators to "capture growth opportunities" driven by the crypto market, the announcement said.
The Singapore-based subsidiary was set up in 2020 to become a crypto service provider targeting "the growing demand for public and private institutional digital assets." SBI Digital Markets provides a range of services including the issuance and custody of virtual assets.
All companies looking to provide services regulated under the country's Securities and Futures Act must obtain a CMS license from the Monetary Authority of Singapore. SBI Digital Markets received in-principle approval for Singapore's CMS license in May 2022. Read More…
