The blockchain-based ADDX securities exchange receives $ 58 million to scale the company
The blockchain-based ADDX securities exchange receives $ 58 million to scale the company
- A subsidiary of the Thai Stock Exchange and the Global Investment Manager Hamilton Lane were recorded as shareholders after the transaction
- also the United Overseas Bank and the corporate venture capital branch of Thailand's fifth largest Bank Krungri were taken on board
The blockchain-based private market exchange AddX announced on Tuesday that it collected several ten million dollars from some of Asia's largest financial institutions to claim their position as top operator in the region.
The stock exchange regulated by Singapore announced in a statement that they received $ 58 million in new financial resources from companies such as the subsidiary of Thailand, Set Venture Holding, and the global investment manager Hamilton Lane. Hamilton according to its own information manages a fortune of around $ 851 billion Website .
These two, including the United Overseas Bank and the corporate venture capital area of Thailand's fifth largest Bank Krungri, were recorded as new shareholders.
addx was founded in 2017 and is a full-service capital market platform that is regulated by the Monetary Authority of Singapore (MAS). The stock exchange tries to use the blockchain and smart contract technology for the tokenization and fractionation of private market opportunities such as pre-IPO capital.
The recent increase in shareholders is joined in the possession of Temasek and the Development Bank of Japan.
"Our corporate customers will be able to open up new middle creation channels, while our accredited investment customers have access to alternative systems in tokenized assets," said Leong Yung Chee, Head of Group Corporate Banking at UOB. "We look forward to a fertile trip with addx."
Financing is used for scaling efforts, the onboarding of General Partners and future product innovations that will try to beat a bridge between traditional and digital financing, said Addx.
As part of the transaction, the new shareholders will also work together for specific projects with ADDX that will support the stock exchange in expansion to new business areas, regions and market segments.
"Addx has the mission to democratize private markets," said Oi-Yee Choo, CEO of Addx, in the explanation. "This pre-eries B round is preparing addx for long-term success."
addx is in possession and is operated by Ichx Tech PTE LTD, which in turn has been recognized by MAS as a market operator and has a capital market service license that grants the parent company the right to act with securities and bid depot services.
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The article Blockchain-Based Securities Exchange Addx Gets $ 58m to scale operations is not a financial advice.