Digital asset exchange, ECXX has obtained ‘recognized market operator’ license in Singapore

January 11, 2022

By Tsering Namgyal

ECXX has announced that it is now a fully licensed blockchain-based digital asset exchange for security tokens, having graduated from the Monetary Authorities of Singapore’s “sandbox.”

ECXX provides accredited, expert, and professional investors access to attractive investment opportunities in alternative asset classes. ECXX has also applied for a license under the Payment Services Act (PSA).

It is currently operating a digital payment token exchange based on the exemption period granted MAS from holding a license under the PSA. It is in a privileged position to offer both digital payment token and security token exchange services in Singapore.

As one of the pioneers in the digital asset market in Singapore, ECXX successfully entered the MAS Sandbox Express in August 2020.

The use of blockchain technology in recent years has led to a proliferation in novel digital assets such as stablecoins, utility tokens, non-fungible tokens and decentralized finance applications.

However, the market capitalization of such assets still pales in comparison to traditional securities and derivatives.

ECXX believes that securitization and trading of securities using blockchain will make alternative investments like private equity, real estate, and other traditionally illiquid assets more accessible and liquid. Blockchain technologies like smart contracts can make securities more transparent and innovative, and it is excited to be part of Singapore’s journey to become a global digital hub.

ECXX has also applied for a license under the PSA. It is currently operating a digital payment token exchange based on the exemption period granted by MAS from holding a license under the PSA. It is in a privileged position as a leading digital asset exchange to offer both digital payment token and security token exchange services in Singapore.


About the author

Tsering Namgyal is the chief content officer of the Blockchain Asset Review. 

 

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