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The AlDigi Group’s digital exchange technology attracts $24 million in SDAX Financial’s Series B funding

Singapore, 21 December 2021 – SDAX Financial Pte Ltd (“SDAX Financial”), the holding company of Digiassets Exchange (Singapore) Pte. Ltd. (“SDAX Exchange”), has raised $24 million in the first closing of its Series B funding round led by PSA International Pte Ltd (“PSA”) and The Straits Trading Company Limited (“Straits Trading”). Also participating in this round was New Horizon Global.

SDAX Exchange, a Singapore-based digital asset exchange, was first established and developed by the AlDigi Group and later merged with Minterest Holdings Pte Ltd to form SDAX Financial. After receiving its Recognised Market Operator licence from the Monetary Authority of Singapore in September 2021, SDAX Exchange completed its inaugural listing of a real estate security token for secondary trading on 6th December 2021.

Mr Jayaprakash Jagateesan, SDAX Co-Founder and Deputy Chairman and Chief Executive Officer of the AlDigi Group, who was part of the team leading the PSA investment, said, “Our digital exchange technology has passed significant scrutiny and has successfully demonstrated its capabilities following its first listing. The success of the Series B funding is a vote of confidence in the technology developed by the AlDigi Group and reflects the market’s bullishness in the fast-growing digital security token economy.”

“The addition of key partners into our digital financial services ecosystem will further accelerate the pace of asset digitalisation, giving the AlDigi Group a boost as it brings trust and transparency to the digital asset marketplace by leveraging its traditional corporate finance experience and expertise,” he added.

The AlDigi Group will deliver end to end solutions from deal origination to listing for secondary trading. The ability to tokenise alternative and illiquid assets will open new possibilities for asset owners to unlock value and for investors to access new opportunities.

Environmental, Social and Governance (“ESG”) and real estate are both key areas of focus for SDAX Financial and the AlDigi Group. Earlier this year, the AlDigi Group entered into Memorandums of Understanding with PSA to support decarbonisation in ports, logistics and supply chains, and with EDMUND TIE to collaborate on real estate corporate fundraising and ESG solutions.

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