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Singapore Exchange, Temasek Launch Digital Asset Business for Capital Markets
The new venture seeks to partner with fixed income issuance platforms for their post-trade infrastructure.
Singapore Exchange (SGX) and state-owned investment firm Temasek Holdings announced Friday a joint venture launching a digital assets business focusing on capital market products.
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- SGX said it will use Temasek’s knowledge in blockchain technology for the digital asset business catering for products such as bonds using smart contracts, ledger, and tokenization technologies.
- The new venture will focus on capital markets, and the firms are looking to partner with fixed income issuance platforms for their post-trade infrastructure.
- On Sept. 1, SGX announced it had partnered with HSBC and Temasek to complete its first pilot digital bond for the food and agriculture business Olam International.
- SGX said its digital asset issuance and depository platform has been used to issue four digital bonds by several issuers of over S$1 billion (approximately US$753 million).
- “The early success in our digital bond issuance platform has paved the way for SGX to make a larger move into digital assets, and we are very excited to take our digital asset business to the next level in partnership with Temasek,” said Lee Beng Hong, senior managing director, head of fixed income, currencies and commodities at SGX.
Read more: Singapore’s Stock Exchange Backs New Ethereum Security Token Platform
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
