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AsiaNext Gains Regulatory Green Light for Institutional-Grade Digital Asset Exchange in Singapore

AsiaNext aims to support the growing institutional demand for trading of public and private digital assets, leveraging the networks of SBI DAH in Asia and SDX in Switzerland and Europe, as well as their joint expertise in fulfilling institutional investors’ needs.

Photo by Kenneth Koh / Unsplash

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AsiaNext, a joint venture between SBI Digital Asset Holdings (Japan) and SIX Group AG (Switzerland), has received an in-principle approval for a Capital Markets Services (CMS) License from the Monetary Authority of Singapore, the company announced in a LinkedIn post.

The CMS license will allow AsiaNext to operate as a trusted digital asset exchange in Singapore, catering specifically to institutional investors in Asia and globally.

The joint venture between SBI Digital Asset Holdings and SIX Group AG was finalized in September 2021, with plans to launch the digital asset exchange in 2023.

Since March 2022, Chong Kok Kee has been serving as the CEO of AsiaNext. Neil Thomas, who previously spent over 14 years at SIX, most recently as regional head of APAC and head of sales APAC financial information based in Singapore, serves as chief commercial officer.

AsiaNext said the provisional license was a testament to their commitment to excellence and regulatory compliance in the digital asset industry.

The platform aims to bridge the gap between traditional finance and digital assets by offering a comprehensive suite of services that meet the rigorous standards of institutional investors. The company's focus is on delivering a secure, transparent, and compliant platform that instills confidence in market participants, CEO Chong told Hubbis in an interview in 2022.

The exchange will provide integrated listing, trading, and post-trade services for digital assets, including digital payment tokens. As the demand for trading public and private digital assets continues to grow among institutional investors, AsiaNext plans to meet this demand by leveraging the extensive networks and expertise of both SBI Digital Asset Holdings in Asia and SIX Digital Exchange in Switzerland and Europe. The joint venture partners have already demonstrated their leadership in digital asset markets globally through various investments, issuances, and initiatives.