According to BlockBeats, Eddid Financial Singapore Pte. Ltd., a wholly-owned subsidiary of Hong Kong's Eddid Financial, has received in-principle approval from the Monetary Authority of Singapore (MAS) for its capital market services license application. Once the license is officially granted, the company will be authorized to offer trading of capital market products, product financing, and custodial services to its clients.
Eddid Financial has expressed its intention to expand its business operations in Singapore beyond traditional financial services. The company plans to venture into virtual assets, corporate financing, and fund management. As part of this strategic expansion, Eddid Financial will establish an office in Singapore to better serve its clients and tap into the growing financial market in the region.
This development marks a significant step for Eddid Financial as it seeks to broaden its footprint in the Southeast Asian financial landscape. The approval from MAS is a crucial milestone that aligns with the company's growth strategy and commitment to providing comprehensive financial services. By entering the Singaporean market, Eddid Financial aims to leverage the city's status as a global financial hub to enhance its service offerings and client reach.