TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
Home
Press release
Aug 04, 2020 22:00 JST
Source:
ECXX Global Pte. Ltd.
ECXX Secures RMO Sandbox Approval from MAS; to Launch Asset-based Digital Securities Exchange
SINGAPORE, Aug 04, 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
Source: ECXX Global Pte. Ltd.
Sectors: Exchanges & Software, Daily Finance, Real Estate & REIT, Crypto, Exchange, Blockchain Technology
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Press Release
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST
Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
Apr 09, 2024 15:04 JST
More Latest Release >>