Singapore fintech start-up SDAX Financial has raised $24m in a fund-raising round led by Singapore container terminal operator PSA International.
SDAX describes itself as a "digital assets exchange for tokenisation and trading of asset-backed digital securities, via a blockchain-powered institutional-grade platform".
The series B funding also attracted investment from The Straits Trading Company Limited and local investment company New Horizon Global.
"As a leading global port group and cargo solutions provider, PSA's investment in SDAX Financial reflects its commitment to co-create and invest in environmental, social, and governance (ESG) solutions for ports, supply chains and climate-conscious cargo owners," PSA International said.
"Through partnering industry and technology players, PSA is driving progress to transform and decarbonise global supply chains.
"From physical assets to digital solutions deployed across its logistics and supply chain, systems and tools, PSA is strategically prioritising supply chain transformation while driving sustainable value creation."
PSA International group chief executive Tan Chong Meng said PSA believes that digital innovation and purposeful partnerships are "key enablers towards co-creating the shift towards more sustainable world trade".
"Through collaborating with SDAX Financial's integrated digital financial services platform, we believe we can further PSA's sustainability initiatives for supply chain partners and cargo owners and make a positive impact towards the decarbonisation of global supply chains, underpinned by clear market mechanisms," he said.
SDAX Financial chairman Tan Chong Huat said the PSA and Straits Trading are "leaders in their respective fields" and their collective expertise strengthens the group's twin-engine focus of ESG solutions and real estate to deliver a compelling value proposition for our ecosystem stakeholders and investors.
"The ability to access a large pool of ESG and real estate assets allows the group to develop new innovative products to capture the fast-growing digital security token economy," he said.
