FOMO Group expands into Capital Markets acquiring CapBridge & 1exchange
By Gloria Mathias
FOMO Group, a Singapore-based financial holding group, has announced the acquisition of CapBridge, a capital markets service and asset custody firm, & 1X Exchange, a private securities exchange company.
With approval from the Monetary Authority of Singapore (MAS) on the acquisition, FOMO Group has secured Capital Markets Services (CMS) and Recognized Market Operator (RMO) licenses in Singapore.
This deal strengthens FOMO Group as an integrated, regulated, licensed digital payment and asset solution provider in Asia.
CapBridge is a digital online investment syndication and distribution platform with a CMS license that offers accessibility to capital markets products, including securities, collective investment schemes, and custody solutions. It is also an exempt financial adviser who can issue investment product analyses and reports.
1exchange is an RMO-licensed private securities exchange offering a cost-effective listing venue for SMEs, corporates, and institutions.
Founded in 2015, the FOMO Group provides one-stop digital payment and digital banking solutions to facilitate global collection and payout for merchants, corporates, and financial institutions.
With a vigilant and proactive regulatory approach, FOMO Group acquired capital market licenses and its existing Payment Service Act (PSA) licenses.
Louis Liu, Chairman of FOMO Group said, “We are excited to bring CapBridge and 1exchange into FOMO Group. Given CapBridge and 1exchange’s demonstrated track record and their strategic investors, such as Singapore Exchange and Hanwha Group, from their previous Series A, the acquisition empowers us to forge a fully integrated financial service ecosystem, offering our clients a comprehensive suite of value-added products.
The attainment of CMS and custodial service license, and RMO license further strengthens FOMO to provide secure, robust, and compliant one-stop solutions to SMEs, merchants, and corporate and institutional clients while maintaining a competitive advantage in the industry.
Furthermore, we have proactively structured our business strategy to align with the ever-evolving global regulatory trends and enhance our compliance capabilities. Therefore, the acquisition of both CapBridge and 1exchange highlights a significant achievement for FOMO Group,” added Liu.
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