FundedX launch shows desire of investors to move to secondary-market investment despite risks: update

SINGAPORE (Aug 2): A day after FundedHere launched FundedX, a secondary broker platform for Southeast Asia startups and private companies, the Singapore-based crowdfunding platform had to come out and publicly clarify that the newly-launched platform is not a "private stock exchange" as claimed by certain media outlets.

See: FundedX, the secondary broker platform for Southeast Asia startups and private companies, launched

In a statement issued to the press on Thursday, FundedHere said: "The Monetary Authority of Singapore (MAS) has brought to our attention that the articles published by the press, containing the words 'private stock exchange' and 'bourse', may cause the markets to have a misconception that FundedX is a market operator and therefore has a licence as either an approved exchange, a Registered Market Operator (RMO) or an Exempt Market Operator (EMO).

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