SDAX, Singapore’s Digital Asset Exchange, secures $50 million in series B2 round funding led by the Oman-based Muscat Precious Metals Refining Company LLC (MPMR).
According to a release, this comes after a $18 million Series B investment round in 2021 headed by PSA International, Straits Trading Company, and New Horizon Global.
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The focus on client acquisition and the addition of new business lines like wealth and fund management are two of the main ways that the money raised will expedite the growth of the SDAX ecosystem.
Rachel Chia, Chief Executive Officer of SDAX, said, “The successful Series B2 funding round is a testament to SDAX’s commitment to democratise access to institutional-grade private markets and alternative investments, We are particularly excited about the opportunity to expand into the GCC region,”.
Nick Cochrane-Dyet MBE of MPMR, and Chair-designate of SDAX said, “We look forward to deepening our partnership with SDAX by developing capabilities in Oman to provide companies in the GCC with an alternative source of funds, and to building a strong investor base in the region.”
About SDAX
SDAX is an integrated digital financial services platform with worldwide connectivity that provides asset owners and investors with a wide range of investment opportunities to take advantage of the global private markets. Through its digital asset exchange, SDAX’s exchange platform provides access to unique assets from its ecosystem and secondary market trading.
