The digital asset services provider, Sygnum Singapore recently announced that it has gained in-principle approval from the Monetary Authority of Singapore (MAS) to conduct additional activities under its Capital Markets Services (CMS) license.
Upon receiving full approval, the company will be able to facilitate asset managers and Web3 players in the region through capital raising solutions under a regulated environment. Sygnum aims to expand its tokenization solution in Singapore.
The announcement from Sygnum came on the back of a significant investment round by the firm in January 2022. In a Series B funding round, the digital asset services provider raised $90 million and received a valuation of $800 million.
Gerald Goh, Sygnum’s Co-Founder and CEO of Singapore, believes that the in-principle approval will help the company expand its presence in the growing market of Singapore.
“Singapore continues to be a welcoming destination for trusted financial institutions seeking to meet the growing demand for regulated digital asset financial services. With the recent conclusion of our Series B fundraise, we are committed to accelerating the expansion of our suite of offerings in the financial hub. These three additional activities that Sygnum will be able to conduct enable us to provide asset managers and Web3 players in Singapore, a new fully regulated platform to raise capital and attract a wider investor base by leveraging blockchain technology,” Goh said.
Activities
The additional regulated activities for which Sygnum has received in-principle approval are, advising on corporate finance, dealing in capital markets products that are securities and units in a collective investment scheme, and providing custodial services.
The Singapore Capital Markets Services license of Sygnum Pte. Ltd is solely regulated by MAS in the region.
“The extension of our offerings into the Singapore market will provide investors access to a team of blockchain, legal and asset management experts and a trusted platform with an operational track record to invest in the latest Web3 opportunities with complete trust and peace of mind,” Mathias Imbach, the Co-Founder and Group CEO of Sygnum, commented.
The digital asset services provider, Sygnum Singapore recently announced that it has gained in-principle approval from the Monetary Authority of Singapore (MAS) to conduct additional activities under its Capital Markets Services (CMS) license.
Upon receiving full approval, the company will be able to facilitate asset managers and Web3 players in the region through capital raising solutions under a regulated environment. Sygnum aims to expand its tokenization solution in Singapore.
The announcement from Sygnum came on the back of a significant investment round by the firm in January 2022. In a Series B funding round, the digital asset services provider raised $90 million and received a valuation of $800 million.
Gerald Goh, Sygnum’s Co-Founder and CEO of Singapore, believes that the in-principle approval will help the company expand its presence in the growing market of Singapore.
“Singapore continues to be a welcoming destination for trusted financial institutions seeking to meet the growing demand for regulated digital asset financial services. With the recent conclusion of our Series B fundraise, we are committed to accelerating the expansion of our suite of offerings in the financial hub. These three additional activities that Sygnum will be able to conduct enable us to provide asset managers and Web3 players in Singapore, a new fully regulated platform to raise capital and attract a wider investor base by leveraging blockchain technology,” Goh said.
Activities
The additional regulated activities for which Sygnum has received in-principle approval are, advising on corporate finance, dealing in capital markets products that are securities and units in a collective investment scheme, and providing custodial services.
The Singapore Capital Markets Services license of Sygnum Pte. Ltd is solely regulated by MAS in the region.
“The extension of our offerings into the Singapore market will provide investors access to a team of blockchain, legal and asset management experts and a trusted platform with an operational track record to invest in the latest Web3 opportunities with complete trust and peace of mind,” Mathias Imbach, the Co-Founder and Group CEO of Sygnum, commented.
Source: https://www.financemagnates.com/cryptocurrency/news/sygnum-singapore-receives-in-principle-approval-to-enhance-regulated-activities/