Last week, SBI Digital Markets and Securitize announced plans to jointly build a digital asset issuance and distribution platform in Singapore, starting with tokenized bonds in November.

SBI Digital Markets, a subsidiary of SBI Digital Asset Holdings (SBI DAH), received its capital markets services (CPM) license from the Monetary Authority of Singapore (MAS) in September.

Together, the companies will focus on blockchain-based issuance and distribution services aimed at institutional investors. SBI Holdings invested in Securitize in 2019.

There is also a need for a market for tokenized assets. SBI Digital Assets Holdings has a joint venture with SIX Digital Exchange (SDX) for AsiaNext, a Singapore exchange for secondary market trading of cryptocurrencies and tokenized securities. AsiaNext will collaborate with SBI Digital Markets, but not exclusively.

Securitize has been involved in various tokenizations of shares of private companies. More recently, it has been part of several tokenized fund issues. These include tokenizing part of a KKR fund, collaborating with investment manager Hamilton Lane for a tokenized feeder fund, as well as an art fund.