Singapore Financial Authority Grants License to SBI's Digital Assets Branch

The company planned to launch a digital asset securities platform in Singapore, as well as provide custodial services, markets capital and corporate finance advice.< /p> New

The Monetary Authority of Singapore, or MAS, has granted SBI Digital Markets, a subsidiary of the digital assets arm of Japanese financial giant SBI Holdings, a license to conduct certain regulated activities in the country.

In an announcement on Thursday, MAS said it had granted SBI Digital Markets a capital markets services license after the company received approval in principle in May. The company, whose parent company offers custody and trading of digital assets, will provide custody services, capital markets products and corporate finance advisory services in Singapore as a regulated business. It also plans to launch a digital asset securities platform.

"This is an exciting milestone for SBI Digital Markets, which will play a major role in SBI DAH's core mission of reinventing and transforming capital markets and banking value chains through the deployment of digital technology," said SBI Digital Asset Holdings. CEO Fernando Luis Vázquez Cao.

SBI Digital Markets is a subsidiary of SBI Digital Asset Holdings, the digital asset arm of one of Japan's largest financial institutions, SBI Holdings. The company recently ceased all mining operations in Russia due to the crypto winter and the country's role in the war against Ukraine. SBI Holdings also announced in August that one of its issuing companies, Clear Markets, received a...