FOMO Group Acquires Two Singapore Financial Institutions, CapBridge and 1exchange, Expanding Into Capital Markets

SINGAPORE – Media OutReach – 7 August 2023 – FOMO Group, a Singapore-based financial holding group, today announces that it has completed the acquisition of CapBridge Pte Ltd (CapBridge), a capital markets service and asset custody firm, and 1X Exchange Pte Ltd (1exchange), a private securities exchange company. With approval from the Monetary Authority of Singapore (MAS) on the acquisition, FOMO Group has secured Capital Markets Services (CMS) License and Recognized Market Operator (RMO) License in Singapore. This deal bolsters FOMO Group’s leading position as a fully-integrated, regulated and licensed digital payment and digital asset solution provider in Asia.

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FOMO Group

Founded in 2015, FOMO Group is a financial holding group based in Singapore, offering one-stop digital payment, digital banking, and digital asset solutions, bridging Web 2.0 and Web 3.0 ecosystems. FOMO Group owns three financial institutions which operate independently from each other:

  • FOMO Pay – A major payment institution regulated under the Payment Services Act to conduct Cross-border Money Transfer Service, Domestic Money Transfer Service, Digital Payment Token Service, and Merchant Acquisition Service. The firm is currently building Asia’s first licensed gateway helping institutions and businesses to connect between fiat and digital currency.
  • CapBridge – A Capital Markets Services licensee licensed to deal in capital markets products, including securities and collective investment schemes, and provide custodial services. It is also an exempt financial adviser permitted to advise on investment products and to issue or promulgate analyses and reports on such investment products.
  • 1exchange – A licensed and regulated private securities exchange with a Recognized Market Operator License, allowing companies and investors to list and trade regulated financial products and equity assets.