According to a Thursday release, SBI Digital Markets, a subsidiary of SBI Holdings’ digital asset unit, has been given a Capital Markets Services (CMS) license by The Monetary Authority of Singapore, or MAS, to provide futures and securities trading services in Singapore. SBI Digital Markets intends to establish a platform for institutional-grade digital asset securities that would enable existing providers of financial services to “exploit growth prospects” brought on by the cryptocurrency market. License Granted By MAS The Monetary Authority of Singapore (MAS) said on Thursday that it had granted SBI Digital Markets a license for Capital Markets Services after the company received in-principle certification in May. The business, whose parent company provides custody and trading for digital assets, will offer regulated custodial services, capital markets products, and commercial banking advisory services in Singapore. A platform for digital asset securities will also be unveiled by it. According to Fernando Luis Vázquez Cao, CEO of SBI Digital Asset Holdings, SBI Digital Markets will play a significant role in SBI DAH’s primary purpose to re-imagine and change banking value chains via the use of digital technologies. SBI Digital Market Suspended Mining Activities Due to the crypto winter and Russia’s involvement in the conflict with Ukraine, SBI Digital Markets has suspended all mining activities there. Additionally, SBI Hold...
