Singapore's central bank, the Monetary Authority of Singapore (MAS) has given CapBridge the approval to operate a private stock exchange in the country. A capital raising platform, CapBridge has already announced plans to open its “1exchange” in the near future. This would make it Singapore's first private stock exchange.
This is not the first time that a company has tried to start its own private stock exchange in Singapore. FundedX was the first attempt at starting one. FundedHere which developed the platform wanted to become a private stock exchange that would service Southeast Asia.
Unfortunately, FundedHere's current license did not cover operating a stock exchange and MAS did not give the company approval to do so.
CapBridge has avoided that mistake and is now poised to position itself as a funding option for private companies before they enter an IPO or a merger. This gives the companies a lot more freedom, with lower costs and more flexibility. CapBridge has been given the Remote Market Operator (RMO) exchange license.
In a statement, Johnson Chen, CapBridge's CEO and founder said
The CapBridge private capital platform has a track record of successfully helping global growth companies raise capital, and providing private investors access to such investment opportunities. With the RMO exchange license, we can now offer an even more integrated suite of private capital services to deserving companies seeking growth capital and sophisticated investors looking for alternative growth options
Chen pointed out that CapBridge's holistic approach to trading would greatly benefit the market. First, it will give companies a way to increase their capital better. Second, private investors will now have better options with their investments. He is optimistic that 1exchange will be welcomed with open arms.
More Options Offered By 1Exchange
The main aim for 1exchange is to provide companies with an alternative option when seeking capital instead of directly going for an IPO. It is also aimed at giving shareholders of venture-backed companies the ability to further monetize their shares, as well as giving family businesses a chance to increase their shares without going fully public.
The future of 1exchange will also be fully in line with the latest developments in the blockchain. CapBridge has already announced a partnership with ConsenSys, a blockchain tech firm. The aim is to develop a trading platform that will be fully compliant with the Ethereum blockchain. They have plans to offer security tokens in the future to facilitate trading on the exchange.
