Monetary Authority of Singapore (MAS) Awarded SBI Digital Markets CMS Licence

MAS, or The Monetary Authority of Singapore has awarded SBI Digital Markets Capital Markets Services (CMS) Licence. The announcement was made on September 15, 2022.

SBI Digital Markets is a company under Japan-based financial giant SBI Holdings that focuses on overseeing and operating digital asset-related businesses.

Launch Digital Assets Securities

In Singapore, the firm will offer custodial services, capital market products, and corporate finance advisory services as part of its regulated business, and plans to launch a digital asset securities platform.

“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,” said Fernando Luis Vázquez Cao, the CEO of SBI Digital Asset Holdings.

Previously, due to the crypto winter and the war on Ukraine, SBI Holdings has ceased all mining operations in Russia.

Related: Singapore’s DBS Bank Aims to Expand Crypto Offerings Despite Bear Market 

 In August, one of the company’s investment firms, Clear Markets, received approval from the U.S. Commodity Futures Trading Commission to provide over-the-counter crypto derivatives products with a physical settlement.

Meanwhile, Chief Executive Officer SBI Digital Markets, Winston Quek said that “Being awarded this (CMS) 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 is Home To Many Crypto business-related

Winston Quek also added that “Singapore’s financial regulatory system is among the most respected in the world for its rigor and transparency, so MAS’s licence signals the standards at which we will operate to our potential partners.”

The MAS is Singapore’s financial regulator and has the authority to issue licences to companies providing crypto-related services to nationals

Related: RRMine, Filecoin Service Provider Announces Relocation to Singapore

Currently, Singapore is home for many crypto businesses such as, a crypto exchange and Do Kwon, the founder of Terraform Labs.

Recently, RRMINE Global, a Filecoin provider, announced on Tuesday that they are relocating its main office to Singapore due to the Chinese government tightening its cryptocurrency regulation. 

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Jamilatul Mahmudah

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