Home » Singapore Blockchain-Based Securities Exchange Scores $20 Million In KB Securities-Led Funding

Singapore Blockchain-Based Securities Exchange Scores $20 Million In KB Securities-Led Funding

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Singapore office ADDXBlockchain technology-powered stock exchange operator secured around $20 million on Tuesday in a funding round led by KB Securities, the securities arm of KB Financial Group, one of South Korea’s largest financial services firms. announced that it did.

The investment is an extension of ADDX’s $58 million funding round announced in May, with participation from investors including the Singapore billionaire. Wee Cho Yos United Overseas Bank, U.S. investment firm Hamilton Lane, the Stock Exchange of Thailand and the venture capital arm of Thailand’s Bank of Ayudhya, according to a statement.

ADDX said it will use the additional earnings to grow its recently launched institutional wealth management platform. We will also explore potential partnerships with KB Securities to expand our private market investment services in Asia, including potential cooperation in Singapore and South Korea.

ADDX’s blockchain-powered stock exchange allows users to buy and sell private market investments such as pre-IPO stocks, unicorns, private equity and hedge funds. The company lists more than 40 deals, including bonds issued by Singapore telecom giant Singtel and funds owned by state investor Temasek.

“ADDX is at the heart of Asian financial institutions that believe in building a new technology-driven infrastructure for private markets to overcome the inefficiencies of the traditional model,” said ADDX CEO. Oi-Yee Choo said in a statement. “At a time of volatility, with many investors sitting on the sidelines waiting for more stability in financial markets, our ability to raise capital demonstrates the momentum behind ADDX and its mission. ”

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Since its establishment in 2017, ADDX has raised a total of $140 million from Temasek’s Heliconia Capital, Singapore Exchange, Tokai Tokyo Financial Holdings, Development Bank of Japan and others. The firm said it serves accredited retail investors in 39 countries across Asia Pacific, Europe and the Americas, excluding the United States.

In June, ADDX announced that, in a process that evaluates accredited investors who are individuals with income exceeding S$300,000 ($218,772), net financial wealth exceeding S$1 million, or net personal wealth in the past 12 months, Announced recognition of ownership. Exceeded 2 million Singapore dollars. Cryptocurrencies accepted by the company include Bitcoin, Ethereum and USDC stablecoins.

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