Digital currency platform on track to expand and increase headcount in Singapore.

Tokenize Xchange, a leading digital asset exchange in Singapore, is excited to announce it has secured an additional US$11.5 million in its Series A Phase 2 funding from TRIVE and high-net-worth individuals (HNWIs). This latest investment elevates the total Series A fundraising to an impressive US$23 million, with the goal to reach US$33 million by year-end.

Founded by serial entrepreneur Christopher Quek, TRIVE is a Singapore VC firm investing in high growth, technology start-ups that create positive social impact, improving the health and wealth of people in Southeast Asia. TRIVE previously led the phase 1 of Series A funding with an investment of US$11.5 million in 2022.

Tokenize is on track to significantly expand its team in Singapore, aiming to quintuple its headcount within the next 18 months. A quarter of these new positions will focus on enhancing compliance and operations, underscoring Tokenize’s commitment to governance, control, and regulatory adherence following recent challenges in the cryptocurrency sector.

The company’s collaboration with top-tier custody and compliance firms showcases its operational resilience and unwavering commitment to excellence.

Hong QiYu, Founder and CEO of Tokenize Xchange, stated, “The continued support from TRIVE and our HNWIs reflects our mutual belief in a robust and transparent digital asset marketplace. Our dedication to compliance and operational integrity is key to building trust and security for our institutional and accredited investors, especially given the dynamic regulatory environment in Southeast Asia.”

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Tokenize’s strategic expansion encompasses more than just an increase in workforce. It also involves adapting to the complex regulatory frameworks across Southeast Asia, adhering to best practices in compliance and governance. The company has applied for a Digital Payment Token License in Singapore, currently operating under an exemption, and was among the first three digital asset exchange operators to receive full approval from the Securities Commission Malaysia in April 2020.

Christopher Quek, Managing Partner at TRIVE, expressed his enthusiasm, “Our renewed investment in Tokenize Xchange is driven by our growing confidence in their strategic direction and their concrete steps towards achieving regulatory excellence. Tokenize is well-positioned to lead in the digital exchange sector, heralding a new era of growth and stability.”

With operations across Singapore, Malaysia, and Vietnam, Tokenize is set to transform the digital asset exchange landscape, leveraging its strong market presence and experience, particularly as Malaysia’s second-largest digital asset exchange. The company’s collaboration with top-tier custody and compliance firms showcases its operational resilience and unwavering commitment to excellence.

This fundraising milestone moves Tokenize Xchange closer to its Series A target of US$33 million, as the company continues to attract keen interest from institutional and accredited investors.

About Tokenize Xchange:

Headquartered in Singapore with branches in key Asian markets, Tokenize Xchange is a premier digital asset exchange platform. It offers a secure, user-friendly platform for trading a wide array of cryptocurrencies, serving both individual and institutional investors. Emphasizing innovation, customer service, and compliance, Tokenize Xchange leads in shaping the future of finance globally. Its proprietary token, TKX, enjoys robust trading on major digital asset exchanges worldwide.

For more information, visit https://tokenize.exchange/

(This article is adapted from a press release).