Skyhook’s institutional clients can store their digital assets securely with Propine’s fully compliant custody service.

Singapore-based Skyhook Capital’s “Digital Assets Wealth Network” or Skyhook DAWN™, offers a “total solution” for business integration of digital securities into conventional investment product distribution channels. Propine is Singapore’s first independent and regulated digital asset custodian.

The two firms announced today a strategic partnership aimed at institutional investors.

Safe custody of digital assets is a major concern that has inhibited full-fledged participation in digital securities by institutional investors. The Skyhook-Propine partnership will help these clients to store their digital assets securely through a fully compliant custody service.

Skyhook Capital

Skyhook DAWN™ is connected to the global public Corda blockchain network. Corda is most suited to the regulated digital capital markets. DAWN is an industry-standard white-labeled SaaS platform that serves as a bridge for digital investing by integrating digital securities with traditional investment product distribution channels.

Lawrence Grinceri, CEO and Founder of Skyhook Capital said: “The collaboration with Propine strengthens our offering in the institutional capital markets significantly by facilitating access to institutional-grade custody and asset servicing services, regulated by the Monetary Authority of Singapore.”

He predicted that the demand for digital securities by wealth service providers such as banks, family offices, and advisors would grow very rapidly. He noted that according to the World Economic Forum, by 2027, around 10% of the world’s GDP could be tokenized. At a rough estimate that would amount to a market capitalization of US$ 24 trillion.

Singapore making strides in digital

Singapore is already taking the lead in developing the market for digital securities and assets in the region.

In September the Singapore Exchange announced a successful pilot of its first Digital Bond. It was a S$400 million 5.5-year public bond issue and a follow-on S$100 million tap of the same issue by Olam International (SGX: O32).

The Exchange also announced its collaboration with UK-based CryptoCompare, to launch crypto indices under its SGX iEdge index suite.

The first such crypto indices will be the iEdge Bitcoin Index and iEdge Ethereum Index. They will mark the SGX Index Edge’s entry into the digital currency asset class.

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