# SDAX

> SDAX is a Singapore-based, MAS-regulated digital asset exchange that tokenises and fractionalises institutional-grade real-world assets - from real estate and private credit to securitised gold - so investors can access private-market deals from as little as SGD1,000 and trade them on a regulated secondary market.

- **Founded:** 2019
- **Headquarters:** Singapore, Singapore
- **Founders:** Jayaprakash Jagateesan (Co-founder, former CEO, now Non-executive Director), Raymond Poh (Co-founder and Deputy Chairman)
- **Team size:** ~55 employees
- **Products:** SDAX Exchange, Securitised Gold Tokens, Investor Platform & Mobile App, Issuer Platform, Wealth & Fund Management
- **Notable:** Secured both Capital Markets Services (CMS) and Recognised Market Operator (RMO) licences from the Monetary Authority of Singapore., Raised a US$50 million Series B2 round in September 2024 led by Muscat Precious Metals Refining Company., Launched what it described as the world's first securitised gold tokens for digital exchange users, backed by physical bullion.

## Products & services

- **SDAX Exchange** — A MAS-regulated digital asset exchange for the primary issuance and secondary trading of tokenised, institutional-grade securities across real estate, private equity, private credit and more.
- **Securitised Gold Tokens** — Fractional, tradeable digital tokens backed by physical gold bullion vaulted at Le Freeport in Singapore, launched with Muscat Precious Metals Refining Company.
- **Investor Platform & Mobile App** — A web and mobile onboarding, investment and portfolio-management experience letting accredited and eligible investors access curated private-market deals from as low as SGD1,000.
- **Issuer Platform** — Tools for asset owners and issuers to digitise, fractionalise and list real-world assets - including real estate, funds, private credit and commercial paper - as digital securities.
- **Wealth & Fund Management** — Expanded business lines announced with the Series B2 raise, extending SDAX beyond exchange services into wealth and fund management for private and institutional clients.

## Achievements

- Secured both Capital Markets Services (CMS) and Recognised Market Operator (RMO) licences from the Monetary Authority of Singapore.
- Raised a US$50 million Series B2 round in September 2024 led by Muscat Precious Metals Refining Company.
- Launched what it described as the world's first securitised gold tokens for digital exchange users, backed by physical bullion.
- Attracted strategic backing from Singapore institutions including PSA International and The Straits Trading Company.
- Listed diverse alternative deals including Asian data-centre funds, UK social housing, fine art and collectible cars.

## Latest updates

- **2025-08** — Sunil Mascarenhas appointed CEO of SDAX, bringing over three decades of international banking, risk and governance experience.
- **2024-09** — SDAX closed a US$50 million Series B2 round led by Muscat Precious Metals Refining Company and moved to launch securitised gold tokens.
- **2024-04** — SDAX unveiled securitised gold tokens backed by physical bullion held at Le Freeport Singapore.

## Links

- Website: https://www.sdax.co
- LinkedIn: http://www.linkedin.com/company/sdax

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Profile page: https://yespress.io/sdax
Published by YesPress — https://yespress.io
Last updated: 2026-07-25