SBI and SIX joint venture AsiaNext to list US dollar MMF and launch digital collateral solution

SBI and SIX's joint venture, AsiaNext, this month listed its first securities, a dollar money market fund (MMF), and launched a digital collateral solution.
AsiaNext first launched 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 Singapore capital markets license and an approved market operator (RMO) license that allows it to operate the exchange. The locally issued USD MMF is the first listed security (not a tokenized security). The company is working with asset managers to list other funds, including Valour, a multinational cryptocurrency ETP issuer with $900 million in assets under management.
AsiaNext also plans to establish a third spot cryptocurrency exchange and has applied for a major payment institution license. At the same time, the company launched the AsiaNext Business Process Layer (AXOL), which integrates the three exchanges.