🇸🇬 Singapore Exchange Raises $58M

ADDX has eclipsed $120M in total funding!

Jonah Schulman
May 31, 2022

Welcome to the 21 new Rainmakers who have joined us since last week. Join the 2,707 others who are laughing, learning, and staying at the forefront of tech every week!

Gooood morning, Rainmakers! ☀️

I hope everyone had a wonderful Memorial Day Weekend and had the chance to reflect, rejuvenate, and respect all those that have served and are currently serving. 🇺🇸 

As always, I have two captivating topics for you to dive into:

1️⃣  🇸🇬 Singapore Exchange Rakes in $58M: ADDX raised $58M for their security token exchange in Singapore to expand operations!

2️⃣  👔 Conference Week Recap: Two security token conferences happened in the same week: Security Token Summit and Vertalo - with one main takeaway!

Without further ado, it's time to…

Get liquid 💧

🇸🇬 Singapore Exchange Rakes in $58M

ADDX, a Singapore-based security token marketplace, just closed a MASSIVE capital raise of $58M, which brings their total capital inflows from investment up to $120M!

This round's participants were the Stock Exchange of Thailand (SET), UOB, Nasdaq-listed Hamilton Lane, and Thailand’s Krungsri Bank.

These new investors are added to the already impressive cap table that includes SGX, Heliconia Capital, Development Bank of Japan, Japan Investment Corporation, Tokai Tokyo, Kiatnakin Phatra, and Hanwha Asset Management.

A huge congratulations are in order for the whole team.

That's right, give them a round of applause!

I CAN'T HEAR YOU! 

Much better.

This isn't surprising as ADDX has been around for some time now, originally under the name iSTOX, but has since rebranded and hasn't looked back.

I had the chance to speak with the ADDX team about what this capital inflow means:

"In terms of geographies, Thailand, Japan and China have been key markets for ADDX outside Singapore. We work with strong partners to bring our digital securities exchange capability to issuers and investors in each of those markets. For example, in Japan, we worked with Tokai Tokyo, via their FSA license, to tokenise a real estate deal last year that was distributed to Japanese investors."

Oi-Yee Choo, CEO of ADDX

ADDX is positioned quite well in Asia and looks to be a strong influence in other leading APAC nations such as Thailand, Japan, and China.

According to ADDX, some of the funding will go towards strategic initiatives, such as expanding the partnerships with issuers and supporting the launch of ADDX Advantage, a private market service for wealth managers.

From the Security Token Market point of view, we are excited to witness the expansion of security tokens not only in Singapore but in ADDX as well.

👔 Conference Week Recap

When can you name another time in history when two security token conferences happened in the same week?

Exactly, you can't. 

This past week, there were two security-token-focused conferences, with one in NYC hosted by Security Token Summit and the other in Austin, Texas hosted by Vertalo!

This may not be a quantifiably exciting statistic, but it's definitely an important one.

The fact of the matter is these conferences are expensive and if there wasn't anything relevant transpiring in our industry then there wouldn't be any conferences, to begin with.

We are in unprecedented times and building the rails as fast as we can.

Half of the team had the opportunity to speak and partake at the NYC conference and the other half did the same at the Austin one.

Kyle moderated a thought-provoking panel that had some of the leading marketplaces around the world including ADDX, INX, Archax, and more.

Nosa James, Head of Product, and Jason Barraza, Head of Growth and Ops, also had the opportunity to participate.

I personally attended the Vertalo conference in Austin and they did not disappoint!

I was joined by Alec Beckman, Head of Partnerships, and Mike Lingle, CFO.

My main takeaway from the conference is that we are all moving in the right direction and the success of security tokens is inevitable.

The majority of us agree that a successful security token future is a future with investor protections, oversight from relevant regulators, and a blockchain-integrated financial system.

The question isn't if, but rather when.

Will I see you at the next security token conference?

You better

💦 What else is Drippin’

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  3. Arca X STM Tokenization for Institution Series: What You Need To Know Ep. 2: In this episode, Jonah Schulman, Peter Gaffney, and Annelise Osborne sat down to discuss what it will take for institutions to move into the blockchain scene.

Everything in this report is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this market report should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.

Disclosures:

• No money or other consideration is being solicited, and if sent in response, will not be accepted;

 • No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through the platform of an intermediary (funding portal or broker-dealer); and 

• A person’s indication of interest includes no obligation or commitment of any kind.

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