In brief: Hg Exchange to launch blockchain-powered marketplace for startup shares

Hg Exchange announced today that it seeks to launch Southeast Asia’s first member-driven exchange to support the issuance and trading of private company shares, including security tokens.

Hg Exchange has submitted a fintech regulatory sandbox application to the Monetary Authority of Singapore (MAS). The industry-backed effort promotes transparency by sharing transaction data amongst market makers and private companies, creating efficiencies for the general market. For investors, this brings unparalleled access to invest into high-growth companies such as Airbnb, Deliveroo, Didi Chuxing, Go-Jek, Grab, Pinterest, SpaceX, and Uber.

Source: Hg Exchange

The exchange is intended to give accredited investors in Singapore better access to buy shares in privately held, high-growth companies.

Phillip Securities, PrimePartners, RHT Capital, and Fundnel have signed on to become the private exchange’s first four members.

Singapore-based blockchain developer Zilliqa and Taiwanese digital asset platform MaiCoin will be building back-office and front-end features of the exchange, respectively.