- SBI Digital Markets plans to launch an institutional-grade digital asset securities platform which would allow traditional financial service operators to "capture growth opportunities" driven by the crypto market, the announcement said.
- The Singapore-based subsidiary was set up in 2020 to become a crypto service provider targeting "the growing demand for public and private institutional digital assets." SBI Digital Markets provides a range of services including the issuance and custody of virtual assets.
- In April, Singapore's parliament passed a new law requiring all digital asset service providers based in the city-state but only providing services overseas to be licensed in the country.
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