Singapore, 12 May 2021 – Digiassets Exchange (Singapore) Pte Ltd (“SDAX”) has entered into a definitive merger agreement with Minterest Holdings Pte Ltd (“MHPL”) to form SDAX Financial Pte Ltd (“SDAX Financial”).
SDAX Financial will combine the strengths of three operating entities, digital investment platform, Minterest Private Limited (“Minterest”), consumer financing platform, Minterest Money Pte Ltd (“Minterest Money”) and digital asset exchange, SDAX.
SDAX is a secure, scalable and efficient blockchain-powered technology platform that will deliver full trading functionalities and fast on-chain settlement with the highest level of trust and compliance. SDAX is backed by RHT Fintech Holdings Pte Ltd (“RHT Fintech Holdings”) and has been developed by leveraging the RHT network of legal and professional services.
Minterest is a leading digital investment platform that provides corporates with access to private capital markets. The award-winning platform leverages its deep sectoral experience and proprietary credit risk models to deliver risk-adjusted returns to its global investors. Investors are able to access alternative investment opportunities across various asset classes including institutional-grade real estate, and private corporate and consumer debt.
Backed by ARA Asset Management Limited (“ARA”) and Mr John Lim, MHPL Group has a proven track record with over S$190 million raised for corporates and consumers.
With the backing of its strategic partners and combined capabilities, SDAX Financial will build a global digital asset exchange ecosystem to serve the growing demand for alternative investments. The ecosystem will offer fully integrated solutions across deal origination, fundraising, digital securities offering and secondary trading.
Mr John Lim, Chairman of SDAX Financial, said, “We are able to deliver a winning global digital asset ecosystem through the merger by bringing together SDAX’s comprehensive and robust exchange technology capabilities with our well-established distribution network and deep expertise in deal origination.
“SDAX Financial will focus on expanding its product offering, pursuing strategic partnerships and adding talent to the team to grow its ecosystem,” he added.
Mr Khoo Boon Hui, Chairman of SDAX, said, “The combined capabilities of SDAX and Minterest create a holistic ecosystem that further strengthens its position to attract asset owners, accredited investors and institutional investors from around the world.”
Mr Tan Chong Huat, Chairman of RHT Fintech Holdings, said, “The future of finance is digital and blockchain technology has the potential to transform capital markets, opening new possibilities in capital raising, digital investment and exchange trading.”
SDAX Financial will be led by seasoned professionals with expertise in banking, capital markets, fintech and exchange technology.
SDAX will remain as an agnostic platform that is independently managed with oversight by an independent Board of Directors and supported by an esteemed panel of advisors chaired by Mr Mah Bow Tan.
Singapore’s position as a trusted financial hub with strong government support for fintech and blockchain technology is backed by a forward looking and comprehensive regulatory framework governing digital finance. These favourable factors will support SDAX Financial in building a trusted global digital asset exchange ecosystem.
Minterest holds a Capital Markets Service licence from the Monetary Authority of Singapore (“MAS”) to deal in capital market products and Minterest Money holds the licence to provide personal loans, while SDAX has received Approval-in-Principle from MAS to operate a digital asset exchange. The merger of SDAX and MHPL is subject to the approval of MAS and will constitute part of the review undertaken by MAS in SDAX’s application for recognition as a recognised market operator.
The Minterest Group is a Singapore-based online financial services solutions provider that connects borrowers with global investors. Established in 2016, it is a leading non-bank fintech group with dual licences in Singapore enabling the group to facilitate, by leveraging on technology, corporate loans through marketplace lending and personal loans at customised interest rates. It has a cumulative deal origination volume of S$190 million in Singapore.
Minterest is founded on the belief that everyone is entitled access to financial solutions to meet their corporate and individual requirements. Using the team’s deep financial experience and expertise, Minterest offers relevant financial and investment solutions to both borrowers and investors through the use of technology.
For more information, please visit www.minterest.sg
SDAX is a regulated digital asset exchange which uses blockchain technology to simplify and speed up traditional exchange processes. SDAX enables the listing and trading of asset-backed securities with a platform tailored for global asset owners, accredited investors and institutional investors.
SDAX unlocks access to unique investment opportunities and new sources of liquidity. Backed by a strong team with a proven track record, SDAX has a network of partners to deliver a seamless experience for issuers and investors on the platform.
SDAX aims to be the platform of choice for accredited and institutional investors by maintaining the highest security, compliance, reliability and resiliency standards with longer trading hours and faster settlement.
For more information, please visit www.sdax.co
For media enquiries, please contact:
RHT Communications & Investor Relations Pte. Ltd.
+65 6381 6347
Minterest Holdings Pte. Ltd.
+65 6386 8623