The Hong Kong-based public trust company Tuesday announced a US$20 million funding round to build up a secondary market for private equity and digital assets, according to a press release.
See related article: Singapore wants to bring some adult supervision to crypto
Fast facts
- The venture for empowering startups Nogle and the Blockchain Technology venture Kenetic Capital invested in the round, the press release said.
- The funding will be used to support First Digital’s expansion in Singapore, the U.K. and Canada.
- The market will allow clients to list assets and receive offers, to facilitate acquiring and liquidating private shares and custodial infrastructure, and allow newcomers to access private companies’ initial release rounds, the press release said.
- The company’s mission is “to help companies, hedge funds, and institutions integrate Web3 assets seamlessly, securely, and compliantly by providing vital upgrades to open finance infrastructure,” said Vincent Chok, CEO of First Digital Trust.
- Open finance is a data-sharing model that allows users to share their financial data to leverage new financial products.
See related article: How Singapore is reimagining its ‘Asian crypto hub’ image