Singapore Exchange (SGX) currently has no plans to permit cryptocurrency listings, as CEO Loh Boon Chye stated that the necessary conditions are not yet in place.
During an interview at the Reuters NEXT conference in Singapore, Loh indicated that the exchange is not considering crypto listings at this time. He emphasized the need for a sustainable ecosystem to support any new product launches, which includes demand, governance, and structure.
Despite the U.S. Securities and Exchange Commission’s recent approval of U.S.-listed spot bitcoin exchange-traded funds (ETFs), and similar developments in Asia, Loh believes the ecosystem in Singapore is not ready for such products. He remains open to the possibility in the future, highlighting SGX’s reputation for innovation.
SGX faces ongoing pressure from institutional investors and industry groups to attract high-growth company listings. The exchange has struggled with low liquidity and valuations due to a small retail investor base. In response, SGX has developed a strong Asian derivatives business and is a global leader in listing real estate investment trusts.
Regarding plans to boost initial public offerings (IPOs), Loh mentioned a promising pipeline, including secondary listings and dual listings. He noted that several companies are currently preparing for these opportunities.
SGX reported a net profit of S$281.6 million ($208.70 million) for the first half of its 2024 financial year, a slight decrease from the previous year. As of the end of June, SGX had 623 listed securities with a total market value of S$792.93 billion.
| GDP (nominal) | Capital | Head of State | Head of Government | GDP (nominal) per capita | GDP (PPP) | GDP (PPP) | GDP (PPP) per capita |
|---|---|---|---|---|---|---|---|
| Singapore | Singapore | Tharman Shanmugaratnam | Lawrence Wong | 497.347 | 87.884 | 786.870 | 133.108 |
Have you read?
Best CEOs.
Best Companies.
Richest People (Billionaire).
Richest Women (Billionaire).
Richest in Each Country (Billionaire).
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine’ prior written consent. For media queries, please contact: info@ceoworld.biz
