Press Release: Capital Raising Platform CapBridge And Global Blockchain Leader ConsenSys Strategic Partnership
Capital raising platform CapBridge Pte Ltd (“CapBridge”) and global blockchain technology leader ConsenSys announced today a strategic partnership to deploy blockchain technology for an upcoming private exchange to be launched in Singapore.
Mr Johnson Chen, founder and CEO of CapBridge, said, “We are pleased to have ConsenSys as our technology partner in developing our CapBridge private exchange. Our private exchange will add to the robustness of capital markets and complement the suite of capital raising options available today, to create a virtuous cycle of capital and growth.”
Mr Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, said, “We believe that by partnering with CapBridge and building infrastructure on the Ethereum mainnet, we will see the benefits of reduced friction and more trustworthy infrastructure, and have the ability to trade regulated instruments globally with reduced or zero counterparty risk. We are excited to be helping build this ground-breaking platform with CapBridge.”
Mr Vinay Mohan, Managing Director of ConsenSys Singapore, said, “Our partnership is a testament to the climate of technology innovation and adoption in Singapore. This is a strategic ecosystem for Ethereum and an important hub for ConsenSys’ Asia-Pacific operations.”
With the support of shareholders including Singapore Exchange (SGX), CapBridge is developing a private exchange named 1exchange (“1X”) designed to improve exit options for shareholders of private companies. By providing another option for stakeholders, employees, and early investors to exit, 1X will create a new global market for secondaries. In the longer term, this will encourage active capital recycling and promote more liquidity throughout the capital market. Early investors and family owned business can also benefit from a partial liquidity. Interested investors and companies can visit www.1x.exchange for more information.
With world-leading global powerhouse blockchain technology partner ConsenSys, CapBridge will be exploring the multitude of ways that blockchain technology can power the private exchange. For example, the blockchain-powered private exchange aims to explore the use of distributed ledger technology (DLT) to reduce inefficiencies in record-keeping, reconciliation, Know-Your-Client (KYC), and Anti-Money Laundering (AML) process, among other exchange tasks. Blockchain also opens up the possibility of the private exchange tapping into global liquidity and asset pools under common regulations and dependable security.
To download the press release, click here.
Johnson Chen, CEO of CapBridge and Joseph Lubin, Founder of ConsenSys
