SBI Digital Markets Pte. Ltd. (SBI DM), a subsidiary of Tokyo-based SBI Digital Asset Holdings (DAH), has just been awarded the Monetary Authority of Singapore’s (MAS) Capital Markets Services (CMS) Licence. SBI DM received In-Principle Approval for its CMS licence from the MAS back in early May 2022.
SBI DM will be conducting regulated activities across advising on corporate finance, dealing in capital markets products, and providing custodial services. SBI DM will be leading the way in capital markets digital assets, building an ecosystem targeted directly at the growing demand for public and private institutional digital assets.
SBI DM plans to launch its proprietary digital asset securities platform, providing an end-to-end solution to help traditional financial service operators capture growth opportunities fuelled by the advent of digital assets.
SBI DM was created in late 2020 with the ambition of becoming a top-tier Singapore-based digital asset business for financial institutions. It is a subsidiary of SBI Digital Asset Holdings Co., Ltd. (SBI DAH) which is a digital asset arm of major financial conglomerate SBI Group. One of the largest Japanese private equity firms, SBI Group also has the highest number of securities accounts in Japan. It has over 200 affiliates across 21 markets, spanning diverse business such as Financial Services, Asset Management and Biotechnology.
Commenting on the award of the MAS’ CMS Licence, Winston Quek, Chief Executive Officer SBI Digital Markets said, “Being awarded this licence 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. Singapore’s financial regulatory system is among the most respected in the world for its rigour and transparency, so MAS’s licence signals the standards at which we will operate to our potential partners.”
Fernando Luis Vázquez Cao, CEO of SBI Digital Asset Holdings, SBI Security Solutions, and SBI DigiTrust said, “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.