CapBridge Pte. Ltd
Through a partnership between the Singapore Exchange and Clearbridge Accelerator, CapBridge was created. This occurred in 2015, with CapBridge acting since that time to help SMEs raise funding through means of equity sales.
CapBridge has found themselves in a position well suited to implement blockchain technology. Recognizing this, they had recently applied with the MAS for a Recognized Market Operator licence. This application was recently granted, with the MAS approving ClearBridge to create and run their own securities exchange. This will be known as ‘1exchange’, and will offer investors services enabling both the buying and selling of digital securities.
CapBridge founder, Johnson Chen, commented on the licence approval. He stated, “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.”
The purpose of 1exchange is to bring the benefits of blockchain to those interested in fund-raising. By offering the ability to raise funds through the sale of digital securities, companies are able to remain private. They are not forced to host an IPO in order to raise the funding needed for continued development.
By utilizing a fund-raising event tailored around blockchain, private companies are able to distribute tokens which offer investors greater liquidity and efficiency than traditionally seen. With this in mind, Chen stated, “Our holistic approach will enhance capital flow for growth companies and improve liquidity options for private investors, benefiting the wider capital market ecosystem in the process,”
1exchange is being developed through the combined resourced of both CapBridge and ConsenSys.
Joining the ranks
This licence will see 1exchange join various companies on a path towards the development of digital securities exchanges. In recent months we have seen offerings approved and announced by newcomers, as well as industry stalwarts such as Nasdaq.
With the rate of growth being seen, it is clear that institutional money has a huge interest in the services to be offered by these exchanges.
Obvious from our articles detailing MAS in recently, they are one of the most forward thinking central banks around. While authorities in the United States continue to shy away from releasing clear and concise industry standards, the MAS has done just that.
Furthermore, we have seen them grant various licences such as the one discussed here. They have announced partnerships with various companies. Also, they are actively working to create a bright future through digital security offerings
Chen continued to add on the relationship with the MAS. He commented, “We have been in close consultation with the MAS and deeply appreciate their support of our goal to contribute to a more vibrant Singapore private capital environment; as a fully-compliant and secure exchange platform, we will continue to work closely with MAS to uplift the capital ecosystem.”