Singapore Exchange (SGX Group) has joined Singapore-headquartered fintech company, FOMO Group, as one of its shareholders.
SGX, which previously invested in FOMO Group’s CapBridge and 1exchange, became the group’s newest shareholder via a share exchange.
Founded in 2015, FOMO Group, through its brands including FOMO Pay, offers one-stop financial services in cross-border payment, cross-asset investment, and real-world asset (RWA) tokenisation.
“We are excited to welcome SGX Group as our newest shareholder. This represents a vote of confidence in our strategy and an opportunity to collaborate with SGX Group, Asia's leading and trusted securities and derivatives market infrastructure,” says Louis Liu, group CEO of FOMO Group. “SGX Group's deep expertise in capital markets, combined with our comprehensive digital finance capabilities, will unlock new possibilities for our merchants, corporates, and institutional clients.”
Amit Kedia, executive director, finance and corporate development at SGX Group, said the investment comes amid a “growing need for innovation” in a “region rapidly embracing digital finance”.
She adds that the move “presents opportunities for regulated interoperable solutions that enhance connectivity and efficiency across the ecosystem”.
