CapBridge, a global capital firm has received a Recognised Market Operator (RMO) license from the Monetary Authority of Singapore (MAS) to exist as a private securities exchange in the country.
According to a press release by the firm today, Nov 22, the new license was issued to CapBridge’s subsidiary CapBridge Platform Pte. Ltd and has been used to set up a securities exchange know as 1exchange.
The newly launched 1exchange will, according to the release, “catalyze liquidity for private companies, prior to an exit event such as an IPO or an M&A situation.” It will also allow listed companies to remain private, enjoy more control and also save costs. The cost efficiency is possible because listing and maintenance fees on 1exchange will be cheaper than traditional exchanges.
Speaking about the new RMO license, Mr. Johnson Chen, Founder and CEO of CapBridge said it would enable his capital firm to “offer an even more integrated suite of private capital services to deserving companies seeking growth capital and sophisticated investors looking for alternative growth options.”
In The Pipeline: CapBridge Security Tokens Listing
With 2019, being generally priced as the year with security tokens will become popular, it is no surprise that CapBridge is also working towards listing security tokens with their new RMO license.
The release points out that CapBridge is working with Ethereum’s ConsenSys to build a “fully compliant private securities exchange.” However, no timeline was provided on when the project will be completed with the release only saying that it will be “in due course.”
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