Singapore Exchange, Temasek Launch Digital Asset Business for Capital Markets

The new venture seeks to partner with fixed income issuance platforms for their post-trade infrastructure.

Jan 22, 2021 at 3:22 p.m. UTC
Updated Sep 14, 2021 at 11:00 a.m. UTC

Singapore Exchange (SGX) and state-owned investment firm Temasek Holdings announced Friday a joint venture launching a digital assets business focusing on capital market products.

  • SGX said it will use Temasek’s knowledge in blockchain technology for the digital asset business catering for products such as bonds using smart contracts, ledger, and tokenization technologies.
  • The new venture will focus on capital markets, and the firms are looking to partner with fixed income issuance platforms for their post-trade infrastructure.
  • On Sept. 1, SGX announced it had partnered with HSBC and Temasek to complete its first pilot digital bond for the food and agriculture business Olam International.
  • SGX said its digital asset issuance and depository platform has been used to issue four digital bonds by several issuers of over S$1 billion (approximately US$753 million).
  • “The early success in our digital bond issuance platform has paved the way for SGX to make a larger move into digital assets, and we are very excited to take our digital asset business to the next level in partnership with Temasek,” said Lee Beng Hong, senior managing director, head of fixed income, currencies and commodities at SGX.
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