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Yongjin Group, and Other Prominent Private Family Offices Partner in The HQ2 For Ideanomics APAC headquarters
Ideanomics Inc. (Nasdaq: IDEX) has today announced its intentions to increase its ASEAN presence by making Singapore its official APAC headquarters. The Company’s New Energy Transportation Services (NETS) Group will lead this expansion effort by making the APAC headquarters its home. Singapore offers top global industry talent, technology, and is a gateway for all the NETS Group global partner alliance and revenue sharing members. This establishment of the APAC headquarters in Singapore is to augment Ideanomics’ offices in Beijing and New York with a presence in the financial heart of the ASEAN region to help take advantage of the company’s strategy for this region, and its Asia Pacific activities overall.
Further, Ideanomics continues to build its ABS advisory services by signing a strategic Joint Venture agreement with leading Singapore family offices and financial conglomerates, such as the Yongjin Group. This will enhance the efficiencies, increase transparency, and facilitate better risk management solutions for the design of ABS financing products. The union of these partners will thrive in Singapore, the current ASEAN hub for Asset Backed Securities (ABS) financings and products.
“Together with our partners, we will bring many new offerings to market in businesses such as new energy transportation and services, travel and tourism properties, retirement properties, time shares, and much more,” said Dr. Bruno Wu, Chairman of Ideanomics. “From designing more efficient products for debt and equity offerings, to better risk management solutions, we plan to work closely with regulators and the high-quality ecosystem for which Singapore is known. We are excited with the opportunities Singapore has to offer, including access to a broad investor base and the ability to repatriate revenues in a tax efficient manner.”
Additionally, the Company has announced it has made an investment in Liquefy (https://www.liquefy.com). Based in Hong Kong, Liquefy is a blockchain agnostic issuance platform for security tokens, and has quickly become the foremost Asian player in this nascent space. The company’s primary focus is real estate, with assets in Hong Kong, Singapore, USA, UK and Middle East in the pipeline for tokenization.
Ideanomics has acquired 10% of Liquefy for the consideration of 815,375 restricted rule 144 common shares of Ideanomics (IDEX), representing US$1,500,290 at $1.84 per share.
“Adrian and his team have significant expertise in the securitized token space and have blended this knowledge with impressive innovations to provide asset holders with a platform where they can quickly and easily gain access to the liquidity they require,” said Alf Poor, CEO of Ideanomics.
Lai and his team are very enthusiastic about the potential for tokenization in the commercial asset space, such as sport teams and racing horses. “These are definitely avenues we intend to pursue this year,” said Lai. He has also detailed funds raised in this round will primarily be used to fund the launch of their investor subscription platform.
SOURCE Ideanomics
