SBI and SIX's joint venture AsiaNext launches USD MMF and introduces digital collateral solutions

ChainCatcher news, according to Ledger Insights, the joint venture between SBI and SIX, AsiaNext, has listed its first security this month, which is a U.S. dollar money market fund (MMF), and launched a digital collateral solution.

AsiaNext first introduced crypto derivatives earlier this year, which do not require a license in Singapore. This is the first of three trading products.

The company holds a capital markets license and a recognized market operator (RMO) license in Singapore, allowing it to operate an exchange. The locally issued USD MMF is the first listed security (not a tokenized security). The company is working with asset management firms to list other funds, including Valour, a multinational cryptocurrency ETP issuer managing assets of up to $900 million.
AsiaNext also plans to establish a third spot cryptocurrency trading venue and has applied for a major payment institution license. Meanwhile, the company has launched the AsiaNext Operations Layer (AXOL), which integrates the operations of three trading venues.