Global private capital platform CapBridge, today announced that it has received approval from the Monetary Authority of Singapore (MAS) for its associated entity, CapBridge Platform Pte. Ltd., to operate a securities exchange known as 1exchange (1X) as a Recognised Market Operator (RMO) in Singapore.
CapBridge and Ethereum blockchain technology studio ConsenSys are working to develop a fully compliant private securities exchange built on the public Ethereum blockchain. In due course, this regulated and secure exchange will offer services that include the listing and trading of security tokens.
Together, CapBridge and 1X will provide growth companies with a holistic private capital raising environment. These companies include private operating companies seeking capital, or preparing for liquidity events; late-state, venture-backed companies with shareholder and employees seeking to monetize their shareholdings; and family-owned businesses seeking to diversify shareholder base or planning for management transitions.
“The CapBridge private capital platform has a track record of successfully helping global growth companies raise capital, and providing private investors access to such investment opportunities. With the RMO exchange license, we can now offer an even more integrated suite of private capital services to deserving companies seeking growth capital and sophisticated investors looking for alternative growth options. Our holistic approach will enhance capital flow for growth companies and improve liquidity options for private investors, benefiting the wider capital market ecosystem in the process. We have been in close consultation with the MAS and deeply appreciate their support of our goal to contribute to a more vibrant Singapore private capital environment; as a fully-compliant and secure exchange platform, we will continue to work closely with MAS to uplift the capital ecosystem.”
The 1X private exchange structure is designed to catalyze liquidity for private companies, prior to an exit event such as an IPO or an M&A situation. Companies listed on 1X remain private with more control, greater flexibility and lower costs compared to a public listing.