2024/01/09

AsiaNext partners with leading market makers and prime brokers to start trading crypto derivatives

Singapore, Jan 9 2024: AsiaNext, an institution-only global digital asset trading venue, has successfully launched crypto derivatives trading – a crucial development for institutional investors seeking a safe and secure venue to trade digital assets. Headquartered in Singapore, AsiaNext is a joint venture between SBI Digital Asset Holdings (SBI DAH) and SIX.

AsiaNext will become part of the upcoming fully integrated digital asset ecosystem, a-one-of-a-kind within the digital asset industry, that provides an institutional-grade, end-to-end digital assets value chain to professional investors. Trading members, including renowned market maker B2C2 and a leading prime broker, benefit from reduced counterparty and settlement risk and can enjoy capital efficiencies through the venue’s innovative risk management process and capabilities to support frequent intra-day margining and settlement runs.

Pioneering a unique connectivity solution, AsiaNext also supports low latency and high frequency trading available 24/7 (for crypto derivatives), as part of a suite of connectivity options for its members. This adds flexibility and comfort for professional traders at institutions. Its matching engine is also built and customised to the demands of an institutional-grade venue.

“B2C2 supports efforts to enhance institutional adoption of cryptocurrencies, as a leading liquidity provider delivering deep and reliable pricing across market conditions. We are pleased to be working with the AsiaNext team to provide liquidity on their venue, with its robust governance and risk management, aligning closely with our approach and focus” – Thomas Restout, CEO, B2C2.

AsiaNext, who received their Capital Markets Services and Regulated Market Operator licences from the Monetary Authority of Singapore in 2023*, will provide a broad product pipeline including digital securities, tokenised real-world assets and sustainability-focused listings. The launch follows a joint survey carried out by SBI DAH and AsiaNext revealing that most institutions have increased their exposure to digital assets in the last 12 months. Despite the ‘crypto winter’, 60% report an increase in client demand for tokenised securities.

“The main motivation was to create a fair, orderly and transparent venue through which institutions can transact with confidence; that helps them realise the benefits of digital assets and crypto, while helping to minimise the downside risk,” said Chong Kok Kee, Chief Executive Officer of AsiaNext. “By putting regulation and rigorous governance at the forefront, we’re providing institutional investors with a safe venue for exposure to digital assets in this region.”

“The future of finance is in bridging the gap between traditional capital markets and digital ecosystems, with institutional adoption of digital assets emerging as a key pathway. AsiaNext, an institutional-grade solution, is poised to accelerate this transformative journey,” – Jos Dijsselhof, CEO, SIX.

“As institutions increasingly recognise the comprehensive benefits offered by digital assets, the emphasis on risk management and a robust underlying infrastructure from venues like AsiaNext becomes paramount,” – Yoshitaka Kitao, CEO, SBI Holdings.

How are other market participants reacting to the launch of AsiaNext?

“AsiaNext’s unique and capital efficient setup will help facilitate broader institutional adoption of digital assets. As a frontrunner in trade concepts and best execution services JB Drax Honoré is excited to participate.” – Paul Bertrand, Managing Director, Derivative Sales, JB Drax Honoré.

“As more traditional financial institutions seek to gain exposure to digital assets, the demand for crypto derivatives has been rapidly increasing. Wintermute Asia’s collaboration with AsiaNext enables us to further refine our derivatives offerings, aligning with the evolving market needs and positioning us to cater to the diverse trading requirements of our counterparties.” – Evgeny Gaevoy, CEO & Co-founder, Wintermute Group.

“Trovio Group provides institutional-grade products for sophisticated global investors. Integration with AsiaNext will give our teams access to the broad spectrum of digital assets that are in its pipeline, to deliver safe and transparent access to new investment opportunities.” – Jonathan Caldwell, Head of Distribution, Trovio Group

About AsiaNext

AsiaNext is a global digital exchange tailored exclusively for institutional investors, that operates under high standards of corporate governance and internal controls. Where applicable*, its business activities are subject to the strict regulatory oversight of the Monetary Authority of Singapore. Its goal is to provide a world-class platform for tokenising and trading a diverse range of securities and non-bankable assets. It will offer a comprehensive suite of services, including listing, trading, and post-trade support for digital assets, including digital payment tokens.

AsiaNext is a joint venture between Japan’s SBI Digital Asset Holdings Co., Ltd. (SBI DAH) and SIX Group AG (SIX) of Switzerland, to meet the growing institutional demand for a safe venue to trade public and private digital assets.

* Note: AsiaNext has been granted the Capital Markets Services and Regulated Market Operator licences by MAS. As crypto derivatives are not regulated, this is offered through a separate unregulated subsidiary. AsiaNext however adheres to the same strict standards of regulatory compliance, risk management and corporate governance across all its activities.