CapBridge-backed 1exchange gets go-ahead to operate private securities exchange

Singapore

GLOBAL private capital platform CapBridge has received the nod for its associated entity, CapBridge Platform, to operate a securities exchange known as 1exchange (1X), which will make it among the first regulated private securities exchanges in Singapore.

In a press release on Thursday, CapBridge said that CapBridge Platform has received approvals from the Monetary Authority of Singapore to operate a securities exchange as a recognised market operator.

This comes after a recent attempt by FundedX to create a private stock exchange for trading startup equity and privately held companies in South-east Asia was shelved because of a failure to obtain the necessary licence. In August, crowdfunding platform FundedHere said its new platform FundedX will not be operating until it has received the relevant authorisation, upon discovering that the business model is not licenced…