SDAX Strengthens Board with Strategic Appointments to Support Next Phase of Growth
Singapore, 16 December 2025: Singapore’s Digital Asset Exchange (SDAX) today announced the appointment of four distinguished leaders to the SDAX Exchange Pte. Ltd. Board of Directors, marking an important step in strengthening the exchange’s governance and strategic capabilities, while advancing its long-term ambition to be a globally recognised market operator.
The newly appointed directors are Tan Chong Huat, who assumes the role of Non-Executive Chairman, BG (Ret’d) Chua Chwee Koh, and Tung Siew Hoong, who join as Independent Directors, and Sunil Mascarenhas, who has been appointed as an Executive Director in addition to his role as Chief Executive Officer. They will serve alongside Thomas McMahon, who continues in his role as Independent & Non-Executive Director. Collectively, the Board brings decades of experience across law, asset management, financial markets, digital transformation, cybersecurity, operations and exchange architecture.
“SDAX is entering a significant phase of growth, with increased momentum across our market initiatives and partnerships. The addition of these directors brings valuable breadth and diversity of experience to the Board as we continue to build an exchange that is resilient, innovation-driven and trusted by investors and issuers alike,” said Sunil Mascarenhas, Chief Executive Officer, SDAX.
New Board Appointments
Tan Chong Huat, Non-Executive Chairman
A founding member and Chairman of RHTLaw Asia LLP, Chong Huat is a highly respected legal practitioner with extensive experience in corporate and capital markets, financial services laws, governance and compliance, as well as advisory work in digital assets and related technologies. He also chairs the Asia Academy of Digital Economy and serves as a board advisor to the Digital Assets Association.
BG (Ret’d) Chua Chwee Koh, Independent Director
Chwee Koh brings deep operational, technological and organisational leadership experience from his tenure as former COO of Certis CISCO, where he helped scale the organisation from S$200 million to over S$1.7 billion in annual revenue. His expertise spans digital transformation, cybersecurity, AI, blockchain technology and board governance.
Tung Siew Hoong, Independent Director
Siew Hoong is a senior investment professional with a long and distinguished career in global asset management, fixed income investing and institutional governance. He held several senior leadership roles during his long career at GIC, including Managing Director, Head of the Portfolio Execution Group, and Head of Fixed Income, and has served on multiple public-sector and industry boards.
Thomas McMahon, Independent Director
A seasoned exchange architect with over 30 years’ experience across US and Asian exchange and regulatory frameworks, Thomas specialises in the development of exchange-traded and OTC products. His background includes contributions to major global energy markets and leadership roles in product development, trading and market structure.
Sunil Mascarenhas, Chief Executive Office and Executive Director
Sunil is a senior financial services leader with a global career that spans Singapore, Hong Kong, London, Australia and India. He has held senior roles at Barclays, Deutsche Bank, Morgan Stanley and ANZ, with experience across Investment Banking, Corporate Banking, Private Banking, Asset Management and Alternative investments. He also has strong front-to-back product lifecycle expertise, including in digital assets and cross-border initiatives, where he has built sustainable Risk and Governance frameworks aligned to regulatory regimes.
“What excites me about SDAX is not just its potential, but its conviction. Markets evolve, technologies shift and expectations rise, yet the principles of integrity and disciplined governance remain constant. The Board is aligned in its commitment to build a market platform that inspires confidence, safeguards investor interests and supports the responsible growth of digital and private-market assets. As we build on SDAX’s foundations, our ambition is to shape an exchange defined by trust, discipline and relevance, not only in Singapore, but across the broader global market landscape.”, added Tan Chong Huat, Non-Executive Chairman, SDAX Exchange Pte. Ltd.
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About SDAX
Singapore’s Digital Asset Exchange (SDAX) is a MAS-regulated investment and trading platform serving institutional, accredited and retail investors. We provide access to fractionalised institutional-grade investment opportunities that have not previously been available to most investors. Our strength lies in private credit, real estate and impactful investment opportunities. SDAX partners with corporates, financial institutions and family offices to bring access to the underserved market.
At SDAX, we commit our expertise and technological know-how to unlock innovative investment opportunities to drive sustainable and impactful growth.
SDAX represents the merged entities of digital asset exchange Digiassets Exchange Singapore (SDAX) and fintech company, Minterest Holdings.
The merger and rebranding bring synergy for SDAX by combining capabilities to offer both a Digital Asset Exchange, regulated under its Recognised Market Operator (RMO) licence, and Capital Markets Services, regulated under its Capital Markets Services (CMS) licence.
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