It was recently announced that a venture capital fund, which is run by a trio, Sygnum, SBI, and Azimut, will be investing in a crypto bourse Coinhako as the fund plans to push through the Southeast Asian crypto trading market.
Coinhako is a Singapore-based crypto exchange that has become very popular in the region recently. The exchange offers clients a reliable and secure channel for crypto trading and investing.
The trio has formed a special fund called the SBI-Sygun-Azimut Digital Asset Opportunity, DAO. It was announced that the fundraising round was three times oversubscribed, and it attracted numerous people, including many prominent institutional investors.
This includes SBI Group, which is the largest FinTech conglomerate in Japan and a true leader around the world, working on speedy adoption and development of the blockchain industry. It was announced that the Singapore-based crypto exchange, Coinhako, will use this opportunity to further expand geographically into the Southeast Asian market.
The company also plans to use this opportunity to offer its services to more institutional and high-net-worth customer segments, which can be quite important for its future development. Apart from the investment, the trio will also provide the Singapore-based crypto exchange with combined expertise and wide-reaching networks, which spans from wide-reaching networks across different types of traditional finance and digital assets.
This is aimed at supporting Coinhako and its further expansion in the region, and potentially around the world as well. In addition, one of the targets of DAO is to aim at providing the platform with special investee companies, which will work by strengthening the existing network of the exchange and preparing it for the future development of its portfolio.
Trio Will Provide Additional Expertise
In the statement issued by the representatives of the SBI, Sygnum, and Azimut, it is noted that the trio will provide the crypto exchange with their combined expertise which is very important for the further development of the company.
While the financial assistance provided by the fund is very important, this part of the offering should also be underlined as it can very much support the Singapore-based crypto exchange.
The Director of the Digital Asset Opportunity Fund, Alice Mak noted that they are very happy and excited to have the opportunity to partner up with Coinhako and choose it as its first investment of DAO fund. According to Mak, the fund will provide the platform to further accelerate its growth potential and make use of every single thing that it has to offer.
CEO of Coinhako, Yusho Liu also noted that the partnership with these strategic investors, who already have far-reaching representation in the Singapore market, will support the growth potential of the company and will help it to become a true leader in the region.
One of the main reasons why Coinhako was chosen by the fund is the significant potential that it shows to be a key crypto player in the region.
Crypto Trading in Southeast Asia
The crypto trading market has become very popular in Southeast Asia over the past few years. There are numerous crypto exchanges available in the region, both local and internationally-well known companies.
Among many countries that have shown significant interest and growth of the crypto industry are Vietnam and Singapore, among many others. While Vietnam does not have any specific regulations regarding the crypto trading market, it remains to be very popular among the residents.
Earlier this year, the government of the country announced to be working on new regulatory guidelines regarding the crypto trading industry, however, it was not specified how the regulations would look.
Automated trading robots have become especially popular in the region. There are numerous third-party companies that offer crypto traders the opportunity to connect the automated trading robots to their exchange accounts.
By using an automated crypto trading system, traders in the region can spend less time on market analysis. This gives them the opportunity to go on with their day, while also making profits from the crypto trading market.
Automated crypto trading robots are one of the main reasons supporting the further development of the crypto trading market. It makes it a lot easier for traders to analyze the market and decide what to do next.
These robots can also be used to automate the actual trading activities, which can help traders use their time in a more efficient manner.
Digital Asset Fund
The Swiss crypto bank launched the venture capital digital asset fund with its partners, to support crypto development around the world. The fund was established by a partnership of the crypto bank Sygnum, Tokyo-based SBI, and the Italian wealth manager Azimut.
The fund is as much as $75 million. Based in Singapore, the fund plans to invest in digital asset sectors across the globe, largely focusing on Europe and Southeast Asia.
The partnership of these three giants is very important for the future development of the crypto industry. Not only is the trio offering crypto companies financial support, but it is also ready to provide them with the skills and experience they have.