Singapore’s Digital Assets Exchange
Real Access.
Real Value.
Our Story
2016
- Established Minterest Pte Ltd
2017
- Seed funding and launching of digital investment platform
2018
- Nominated as one of the Best Small Companies to Watch by The Silicon RevIew
2019
- Winner of the Dun & Bradstreet Business Eminence Awards 2019 for business excellence
2020
- Strategic investment from ARA Asset Management and John Lim
- S$8M SME Help Fund was launched to support COVID-19 affected businesses
- Completed S$35m real estate deal
- Top 50 Rising Startups in Southeast Asia 2020
2021
- Obtained Recognised Market Operator License from MAS to operate digital asset exchange
- Formation of SDAX Financial
via merger with Digiassets Exchange - Launch of SDAX Exchange for listing and trading of tokenised asset-backed digital securities
- Strategic investment from The Straits Trading Company
2022
- Minterest rebranded as SDAX Capital Markets
- Exceeded $300m asset listing on SDAX Exchange
2023
- Raised over $500 million on SDAX Platform
- SDAX launched the first digital native issuance with Artory/Winston and Apex Group
- Signed with 20+ partners to expand digital asset ecosystem
2024
- Completed USD$50M Series B2 round with Muscat Precious Metals Refining Company
- Exceeded $1 billion listings on SDAX Platform
- Launch of SDAX Mobile App
- Joined the Hyperledger Foundation
Our Team
Get to know the management team leading the charge
Sunil Mascarenhas
Chief Executive Officer
Steven Yeo
Tan Bee Lay
Wendy Kang
Alvin Lim
Managing Director, Commercial
SDAX Exchange Board of Directors
Tan Chong Huat is the Chairman and one of the founding members of RHTLaw Asia LLP, a leading legal practice with a strong Asia Pacific presence. He is also the Chairman of the RHT Group of Companies, which is involved in sectors such as financial services, digital assets and blockchain technology. Chong Huat is additionally the Chairman of the Asia Academy of Digital Economy and a board advisor to the Digital Assets Association.
Chong Huat has extensive experience in corporate, banking and project finance law in Singapore and the region, and has acted on numerous significant corporate transactions, including IPOs, RTOs, MBOs, restructurings, M&As, and the financing of major real estate and infrastructure projects across Asia. He has been consistently recognised as a leading practitioner in reputable publications such as IFLR1000 and Legal 500 Asia Pacific.
Over the years, he has successfully invested in start-ups, SMEs and listed companies. He is also knowledgeable and passionate about blockchain, distributed ledger technologies and digital assets, and has invested in two digital exchanges that apply DLT frameworks. He founded SDAX Financial Pte. Ltd., where he previously served as Chairman, and now serves as Non-Executive Chairman of the SDAX Exchange Board. In this role, he provides strategic oversight and guides the Board in enhancing sector leadership, governance and compliance, and financial performance and stewardship, with the vision of transforming the Exchange into a globally recognised market operator.
He is an avid golfer and currently serves as the President of the Singapore Golf Association and Chairman of the ASEAN Golf Federation.
Chong Huat is passionate about the “Drug Free Singapore” cause and contributes actively to it as Chairman of the National Council Against Drug Abuse.
Sunil brings more than 30 years of global financial services experience across the three lines of defence, with a career spanning Singapore, Hong Kong, London, Australia, and India. He has held senior roles at Barclays, Deutsche Bank, Morgan Stanley, and ANZ, leading global teams and strengthening risk and control frameworks across investment banking, corporate banking, private banking, asset management, and alternative investments.
He possesses strong front-to-back product lifecycle knowledge, including in digital assets, and has driven new product development, due diligence, and cross-border integration efforts across Asia-Pacific and Europe. His leadership spans both risk and commercial functions – fostering strategic growth, driving efficiency and compliance outcomes, and enhancing performance in sales-driven and branch-led businesses.
Sunil has worked closely with diverse organizational teams, contributing significantly to the development of global product approval frameworks, including those for digital assets, and supporting regulatory and governance transformations across multiple jurisdictions. With extensive audit experience reporting to boards and regulators, he has also served as a Designated Material Risk Taker and Material Risk Person under stringent regulatory accountability regimes.
He holds a Master of Arts (Honours) in Economics from St John’s College, University of Cambridge.
BG (Ret’d) Chua Chwee Koh is the former Chief Operating Officer (COO) of Certis CISCO Pte Ltd. He joined Certis CISCO in 2004 as the COO and was a member of the Executive Leadership Team that grew the group revenue from S$200 million to more than S$1.7 billion in FY2021. As COO, he was accountable for revenue, profit and customer satisfaction for the manpower security business in Singapore (revenue of approximately S$800 million in FY2018). He served as the Chief, Group Technology and Operations from May 2018 to July 2021 and led the digital transformation effort during that period. He has since developed significant expertise in digital transformation, cybersecurity, AI and blockchain technology. He also served as a Non-Independent & Non-Executive Director at Addvalue Technologies (AVT) Pte Ltd (listed on SGX) from January 2022 to October 2025. As the Board Exco Chairman of AVT, he worked closely with the Management team and successfully guided the company back to a path of sustainable profitability. Prior to joining Certis CISCO, Chwee Koh served in the Singapore Armed Forces (SAF) for 22 years and retired from SAF in 2004 with the rank of Brigadier-General.
He is currently an Independent Director of Raffles Education Ltd (listed on SGX); an Independent Director of Trident Digital Tech Holdings Ltd (listed on Nasdaq); Senior Advisor at Vizzio Technologies Pte Ltd; a member of the Audit Committee of Dementia Singapore (a charity); and a council member at the RHT G.R.A.C.E. Institute, a social enterprise that promotes ethical leadership.
As an Independent Director of SDAX, Chwee Koh leverages his background in operations, technology and organisational leadership to support the Board in enhancing operational resilience, strengthening technology governance and advancing strategic digital initiatives across the Exchange.
Chwee Koh graduated with a Bachelor of Science in Mechanical Engineering & Economics (First Class Honours) from the University of Birmingham in 1985. He holds a Master of Public Administration from Harvard University and has also completed the Advanced Management Programme at Harvard Business School.
Thomas McMahon is an exchange architect with over 30 years of experience across US and Asian exchange and regulatory frameworks, with a focus on the development of exchange-traded, cleared futures and over-the-counter products.
His experience in exchange architecture and strategic development includes serving on the West Texas Intermediate Petroleum Advisory Board and contributing to LPG product development and trading; chairing the Natural Gas Advisory Committee, where he helped launch the Henry Hub contract in 1991; extensive work in LNG and LPG product development and trading, including acting as a market maker and serving as Ring Chairman; and early adoption of BitGold, leveraging the platform for transactions backed by physical gold holdings.
His role as an Independent Director of SDAX is to provide strategic advice and guidance on the exchange’s operations and long-term development.
Tung Siew Hoong is a senior investment professional with long and distinguished career in global asset management, fixed income investing and institutional governance. He serves as an Independent Director of The Great Eastern Life Assurance Company Limited, Great Eastern General Insurance Limited and Lion Global Investors Limited, and sits on the Investment Committee of Singapore Bible College as well as the Finance and Investment Committee of the Singapore Golf Association.
Siew Hoong spent more than three decades with GIC Private Limited, where he held several senior leadership positions, including Managing Director, Head of the Portfolio Execution Group and Head of Fixed Income, following earlier roles as Portfolio Manager and Senior Economist. He has also contributed extensively to public sector and industry governance through appointments with the MAS Singapore Foreign Exchange Market Committee, the Central Provident Fund Board and the Emerging Markets Traders Association. He previously served as an Independent Director of Aldigi Holdings Pte. Ltd. He was awarded the Public Service Medal (Pingat Bakti Masyarakat) in 2017.
As an Independent Director, Siew Hoong draws on his expertise in investment governance, portfolio risk management and institutional oversight to support the Board in strengthening market integrity, governance standards and the Exchange’s strategic positioning.
Siew Hoong holds a Master of Social Sciences in Statistics and a Bachelor of Social Sciences (Honours) in Economics and Statistics from the National University of Singapore. He is a Chartered Financial Analyst (CFA) Charterholder and a member of both the CFA Institute and CFA Society Singapore.
SDAX Financial Group Board of Directors
Azman Jaafar is the Managing Partner and one of the founding members of RHTLaw Asia LLP, a regional law firm with its ASEAN Plus Group network offices across Asia and beyond. He is also the Chairman of ASEAN Plus Group and he also heads the firm’s Indonesia practice group and he is a strong advocate of change and transformation.
The mainstay of his law practice is in the areas of mergers and acquisitions, and corporate finance; although his chief preoccupation today is the management of the law firm, the deployment of technology within the firm, its transformation, and collaboration across the firm’s regional network, together with its multidisciplinary professional service offerings under ONERHT.
He is an ad hoc tutor and lecturer at the National University of Singapore Law Faculty’s Legal Case Studies programme and is also a regular speaker at seminars on mergers and acquisitions, initial public offerings and regulatory compliance in Singapore.
Azman was awarded a Public Service Medal (Pingat Bakti Masyarakat, PBM) by the President of the Republic of Singapore in 2007 in recognition of his voluntary work as a councillor with Northeast Community Development Council since 1997. Having served under three different administrations, he has also worked in and chaired several standing committees within Council. He was also awarded the Long Service Award from Northeast Community Development Council.
Azman was the Chairman of the Executive Committee of SAFRA Jurong Clubhouse and member of the Management Committee of SAFRA. He remains a volunteer in SAFRA. He was also Chairman of the Tanjong Katong Girls School Advisory Committee and he was a member of the Board of Trustees of Industrial & Services Co-operative Society Ltd (“ISCOS”). He is also a serving member of the Management Committee for Home United Football Club (“HUFC”).
Nick is a special advisor for BP, providing specialist advice on a variety of topics related to the Gulf Cooperation Council (GCC) states. Following his services for the British Army, Nick has had a 40-year career based in the UAE, where he has held senior management positions at two multinationals. During these roles, Nick focused on government and customer relations, as well as ESG issues. Nick also serves as the chairman of the British Chamber of Commerce Abu Dhabi, and also chairs the Advisory Board of the Energy Industry Council.
Nick is a graduate of the Royal Military College Sandhurst.
Anand is a second-generation entrepreneur with nearly two decades of experience in the jewellery industry. He is a seasoned professional in strategic initiatives and holds directorial and shareholder roles in various jewellery and bullion enterprises.
He is credited with envisioning and executing a successful bullion trading business, expanding its presence across the Middle East, Far East Asia, and India. Driven by a passion for digital technology, Anand has successfully spearheaded the launch of FinTech ventures in the jewellery sector, including GoldCityMall, GoldMine kiosks, BeSpoke Solutions, Gold Experience Center, and AIPM.
With a background in engineering, Anand is also a recognized speaker on topics related to precious metals and Bullion FinTech, having presented at global industry events.
As the Chief Commercial Officer at SDAX, Melwyn brings a wealth of expertise and knowledge to the business.
A storied Banker over 35 years in the banking industry, he is a seasoned professional with a rich and diverse skills set and experience spanning Retail Banking, Investment Banking, Private Banking and the Family Office space, across Southeast Asia, the Middle East, and the Indian subcontinent.
Besides being a Top of the Class Private Banker, with a deep understanding of client needs, and a proven record of delivering optimal solutions across all wealth life stages, he has been recognized for building and mentoring high-performing teams and developing scalable businesses within the private wealth space.
He holds a Bachelor’s degree in Electronics Engineering, a Master’s in Management Studies from Bombay University, and a degree in Leadership Management from IMD Lausanne. Additionally, Melwyn serves as a visiting professor in Private Banking & Alternative Investments for the Masters of International Finance (MIF) program at the French university ESSEC.
Eric Teng is the Group Chief Operating Officer of The Straits Trading Company Limited and Chief Executive Officer of Straits Developments Private Limited.
As Group COO, Eric is responsible for driving the Group’s organisational vision, formulating, and executing operational strategies, managing capital market activities and the Group’s “Co-Invest” platform. He plays a key role in developing and implementing business plans that align with both the short- and long-term objectives of the Group.
In his role as CEO of Straits Developments Private Limited, Eric oversees the Group’s legacy real estate, hospitality, and property segments e.g. retail, senior living and hospitality. He is responsible for identifying and developing new business opportunities and leads the Group’s corporate functions.
Eric joined the Tecity Group in 2005 and served as the first CEO of the Tan Chin Tuan Foundation from 2006 to 2010. He held several senior leadership positions at Straits Trading from 2009 to 2015, including CEO for Property and Hospitality from 2010 to 2013. From 2016 to 2019, he was Executive Director and CEO of SGX-listed Heeton Holdings Limited, subsequently serving as a Non-Independent and Non-Executive Director from 2019 to 2020. He rejoins Straits Trading since October 2019.
Eric continues to serve as an Advisor to both the Tecity Group and the Tan Chin Tuan Foundation. He holds a Master of Business Administration from the National University of Singapore.
Eddy Ng is PSA’s Head of Group Commercial & Supply Chain Sustainability Solutions. He sits on the Senior Management Council of PSA International.
Eddy steers the PSA Group’s commercial strategies in support of its activities and relationships with key global shipping lines, as well as develop PSA supply chain solutions with stakeholders to further PSA decarbonisation efforts in maritime and supply chain production systems. In addition, Eddy has a leadership role in Group Process Excellence, with a focus on strengthening and cascading PSA’s technology roadmap and digital developments in PSA projects globally.
Eddy holds directorship positions in Vopak Terminal Singapore Pte Ltd and MSC-PSA Asia Terminal Pte Ltd. In recognition of his contributions that span over two decades in PSA, Eddy was conferred the PSA Global Champions Award in 2017. Eddy graduated with a Bachelor of Arts with Merit from the National University of Singapore.
Mr Ivan Koh has more than 20 years of experience in the real estate sector covering property management, centre management, marketing & leasing, asset and investment management, and project development management in Singapore, China and India.
Prior to joining APM Property Management, Ivan was CEO of Perennial Real Estate, China. His portfolio comprised over 5.5 million sqm of developments including six operational assets, six projects under development and healthcare assets in first-tier cities and major provincial cities. Ivan previously held various positions including COO (Retail) at DLF International Holdings Pte Ltd in New Delhi and Regional General Manager of West China and General Manager of North China at CapitaLand Retail Limited (renamed CapitaLand Mall Asia Limited).
Ivan holds a Bachelor of Science in Management (Honours) from the University of London, UK.
Global Ecosystem of Shareholders

Muscat Precious Metals Refining Company LLC (MPMR) is incorporated in the Sultanate of Oman and specialises in the smelting, refining, testing, trading and minting of precious metals such as gold, silver, platinum and palladium.

The largest real estate asset manager in APAC and the third largest listed real estate investment manager globally, with US$156 billion in gross assets under management.

Singapore’s leading port group with a global network encompassing 160 locations in 42 countries around the world.

ONERHT is an integrated multidisciplinary platform of professional and specialist services encompassing legal, business consultancy, corporate & digital finance, digital solutions, and wealth & asset management.

The Straits Trading Company Limited is a conglomerate-investment company with operations and financial interests in resources, property, and hospitality.