CoAssets gets licence to run crowdfunding in Singapore

HOMEGROWN crowdfunding company CoAssets said on Tuesday that it has received the Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS) to run crowdfunding in Singapore.

CoAssets, which is listed on the Australian Securities Exchange, specialises in facilitating funding for real estate and small and medium enterprises.

It said: "Singapore is a key market and one of the major revenue contributors to the CoAssets Group. The CMS licence will now allow the company to start re-engaging its 55,000-plus users in Singapore, and further cement the company's reputation as the first-listed crowdfunding platform in Asia."