ADDX raises $58 million and partners with the Thai stock exchange

0

ADDXthe Asia-focused digital stock exchange, said it raised $58 million from the Thailand Stock Exchange (SET), UOB, Nasdaq-listed Hamilton Lane and Thailand’s Krungsri Bank.

The new capital will help the digital stock exchange grow, he said.

ADDX uses blockchain and smart contract technology to tokenize and fractionate pre-IPO stocks, private equity and hedge funds, and bonds.

The goal is to reduce the minimum investment size from $1 million to $10,000, opening the markets to more investors.

SET is the second exchange to become a shareholder, after Singapore’s SGX.

“This is part of a broader global trend over the past two years of exchanges joining forces in a new capital market landscape that emphasizes continuity between public and private markets,” Oi said. -Yee Choo, Managing Director of the Digital Stock Exchange.

SET will now have the right to appoint a member of the ADDX board.

“We are confident that the collaboration will bring a wealth of experience, knowledge and more opportunities to Thai capital markets stakeholders through the international digital capital markets platform,” said SET Chairman Pakorn Peetathawatchai.

ADDX investors also include Heliconia Capital, owned by Temasek, Development Bank of Japan, Japan Investment Corporation, Tokai Tokyo, Kiatnakin Phatra and Hanwha Asset Management.

“The [new investors] have much to contribute in the form of expertise, ideas, market experience and business networks, and ADDX looks forward to adding value to its business in return,” Choo said.

READ MORE:

ADDX Tokenises Private Credit Fund by SeaTown, owned by Temasek

SGX-Backed ADDX Launches Crypto Products, Listing Institution-Grade Funds

Thailand to ban crypto payments, citing threat – Bangkok Post

george russell

George Russell is a Hong Kong-based freelance writer and editor who has lived in Asia since 1996. His work has appeared in the Financial Times, Wall Street Journal, Bloomberg, New York Post, Variety, Forbes, and South China Morning Post. . .

Share.

Comments are closed.