Alta’s Exchange Arm, AltaX was granted approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) custodial license.
“This allows AltaX to safeguard and hold assets, including securities, funds and other financial instruments, on behalf of their customers including custody of digital assets like blockchain-powered security tokens.
“With this, Alta will be able to ensure the safe-keeping of digital and non-digital assets, providing assurance, security and efficiency to its investors and issuers,” the company said today in a statement today (Nov 3)
The digital marketplace operator also announced its partnership with Singapore’s Evolve Capital and expands its platform to Hong Kong by partnering multi-family office platforms Rockpool Capital and Cachet Group and a leading securities brokerage Quam Securities.
“Through the partnership, the new member firms will be able to list opportunities while also giving their investors direct access to Alta’s platform with its growing inventory of globally-sourced alternative investment opportunities on the platform.
“It also marks Alta’s expansion of its investor network and investment opportunities to firms from overseas,” it said.
With these new partnerships, Alta brings its total number of member firms to nine, which include existing partners such as Singapore-based broker Phillip Securities, corporate finance firm PrimePartners and investment platform Kilde.
Alta chief operating officer Willie Chang said investor interest in alternatives has significantly increased as many investors look to increase allocations that provide a hedge against the challenging markets.
“According to a report by Sia Partners, alternative investment firms AUM will increase globally from $10.8 trillion from 2020 to $17.2 trillion by 2025, and we are expecting much of that growth to come from Asia.
“We are extremely excited to have Evolve Capital, Rockpool Capital, Cachet Group and Quam Securities on board as partners. Our successful partnerships reaffirm our commitment and ability to help investors consider a range of alternative investment opportunities as a means of increasing returns and mitigating macro risks,” added Chang.
According to Union Savings Bank (USB) insights, Investors in Asia Pacific (APAC) have shown high optimism in regional private equity and are looking towards alternative investments amid the inflationary backdrop.
Evolve Capital managing partner and chief executive officer Jerry Chua the not only expands its global partner network for future growth, it also widen its spectrum of investment banking services.
“We believe alternative investments are the way forward for enhanced portfolio diversification, and our partnership with Alta marks an important milestone in this direction.”
Alta added it has recently listed Discord tokens on its digital exchange, alongside several new secondary market listings, pioneering the use of security tokenization to power real-time and efficient trading in private markets.
Alta Exchange lists a growing number of tokenised real-world assets on its digital securities exchange. Alta Exchange continues to provide investors access to a wide range of curated alternative assets including opportunities in global private companies like SpaceX, Stripe and Global Private Equity Credit funds through Hamilton Lane.
