This morning, ADDX, a Singapore-based digital securities trading platform, announced a $58 million pre-Series B financing round. SET Venture Holding, a subsidiary of the Stock Exchange of Thailand, UOB, Hamilton Lane, and Krungsri Finnovate are among the new shareholders in the company. There was no estimate given. Digital securities platform ADDX raises $58 millionhttps://t.co/PTCoHc5atv — Avy-Loren Cohen 🇨🇦 (@AvyLorenCohen) May 24, 2022 According to a press release, the funds will help the company grow and expand geographically. ADDX is working on several projects, including bridging the gap between traditional banking and digital asset operators. The firm fractionalizes investments in privately owned shares, hedge funds, bonds, and other asset classes using blockchain technology. The Monetary Authority of Singapore (MAS) has awarded ADDX licenses for issuing, custody, and secondary trading of digital securities. It has raised roughly $120 million to date, with a $50 million Series A round in January 2021 accounting for a significant portion. The firm’s shareholders include the Singapore Exchange and Heliconia Capital, Temasek’s sovereign wealth fund subsidiary. In a statement, ADDX CEO Oi-Yee Choo said, “ADDX is on a mission to democratize the private markets.” “The new shareholders are strategic partners as well as capital partners.” They have a lot to offer in terms of skills, ideas, industry experience, and business ne...
