Odaily Planet Daily News SBI and SIX's joint venture AsiaNext has launched its first security this month, a US dollar money market fund (MMF), and introduced a digital collateral solution. AsiaNext first launched cryptocurrency derivatives earlier this year, which do not require a license in Singapore. This is the first of three trading products. The company holds a capital market license and a recognized market operator (RMO) license in Singapore, allowing it to operate an exchange. The locally issued USD MMF is the first listed security (not a tokenized security). The company is working with asset management companies to list other funds, including Valour, a multinational cryptocurrency ETP issuer managing assets of up to $900 million. AsiaNext also plans to establish a third spot cryptocurrency trading venue and has applied for a major payment institution license. Meanwhile, the company has launched the AsiaNext Operations Layer (AXOL), integrating the operations of three trading venues.