Hanwha Investment & Securities Co. Ltd. received approval from South Korea's Financial Services Commission to acquire an unspecified stake in CapBridge Holdings Pte. Ltd., which controls CapBridge Pte. Ltd. and 1exchange in Singapore, FNTIMES reported Sept. 5, citing the South Korean brokerage.
The South Korean brokerage's investment in CapBridge is about 5 billion won. The two companies also signed a partnership agreement to collaborate on blockchain-based digital platform development.
The brokerage plans to use its ties with CapBridge to explore business opportunities in the Southeast Asian market.
As of Sept. 4, US$1 was equivalent to 1,204.81 South Korean won.
