Singapore, 20 Nov 2024 – Hydra X today announced that it is the first licensed custodian in APAC to provide custody for Canton Coin, marking a significant milestone for both Hydra X and the Canton Network ecosystem. In this groundbreaking collaboration, SBIVC will become the first Canton Network ecosystem member to leverage Hydra X’s industry-leading custody services for Canton Coin.

Supporting Canton Coin will enable Hydra X’s clients across APAC, such as SBIVC, to bring regulatory-grade digital assets to market, utilizing the full potential of tokenization and Canton Network’s privacy-first architecture. Hydra X will partner with Digital Asset to integrate its tokenization utility, allowing institutional clients to securely issue and manage digital assets while maintaining full control over privacy and data sovereignty—a hallmark feature of the Canton Network.

“SBIVC is excited to be the first Canton Network ecosystem member to leverage Hydra X’s industry-leading custody services for Canton Coin. Hydra X’s strong track record in regulatory compliance and security makes it an ideal partner for this initiative. This partnership is a crucial step in delivering the secure, privacy-preserving infrastructure that is required to foster confidence in digital assets for institutional players across APAC,” said Eiichiro So, CEO of SBIVC.

“Becoming the first licensed custodian in APAC to support Canton Coin is a significant achievement for Hydra X,” said Ng Wee Hao, COO of Hydra X. “This partnership with Digital Asset and SBIVC enables us to leverage the full power of the Canton Network’s privacy and security features, reinforcing our commitment to providing secure, regulatory-compliant solutions. Our clients can now confidently navigate the digital assets space, supported by a scalable solution that meets the highest regulatory standards.”

About the SBI Ven Capital Pte. Ltd.:

SBI Ven Capital Pte. Ltd. (SBIVC) is a leading venture capital & private equity firm that invests in financial services and technology sectors across Asia, inclusive of digital platforms and Web3-related investments. SBIVC has a proven track record of partnering with companies and assembling critical resources needed to grow businesses in Asia. SBIVC’s investment platform combines financial acumen, industry insight and operational expertise to enhance the value of the companies that it invest in.

SBIVC has a long track record of working with financial services and technology companies that are:

• looking to raise equity or equity-linked financing
• have market-leading products, processes and/or technology
• backed by a strong team with whom SBI Ven Capital can partner

SBIVC was issued Capital Markets Services Licence (Licence No. CMS100261) on 23 May 2013 under the Securities and Futures Act by the Monetary Authority of Singapore to conduct fund management activities for accredited investors.

As of December 31, 2023, SBIVC managing USD 952.8M.

SBIVC is the overseas private equity arm of SBI Holdings, Inc. (Japan).

About the Canton Network:

The Canton Network is the financial industry’s first and only public chain that can achieve on-chain privacy, control, and interoperability, making it the most suitable network for institutional assets. The Network launched for testing with the participation of a group of leading financial institutions, infrastructure providers, technology firms, and consultants in August 2023. Initially built upon Digital Asset’s technology, the Network’s controls, governance, and app development have been open-sourced and decentralized to be managed by all participants, with the goal of fostering greater innovation and Network utility. 

The Canton Network’s design overcomes the shortfalls of existing blockchain networks by enabling previously siloed systems in finance to become interoperable and synchronized in ways that had been impossible before. Offering the privacy and controls required for highly regulated organizations, the Canton Network creates a safe environment in which assets, data, and cash can move freely across applications in real-time, unlocking new efficiencies and powering innovation.