Golden Finance reported that Singapore digital asset exchange SDAX has completed a $50 million B2 round of financing led by Oman's Muscat Precious Metals Refining Company (MPMR). Previously, SDAX completed a $18 million Series B financing in 2021. SDAX plans to use this financing to launch a digital asset exchange in Oman, with the goal of expanding the Gulf and African markets. In addition, SDAX and MPMR jointly launched a tokenized gold product in April this year, which is based on medium-term loan notes and the gold is stored in Le Freeport in Singapore. SDAX CEO Rachel Chia said that this financing proves the company's commitment to making institutional-grade private markets and alternative investments accessible to more people. At the same time, the market demand for tokenized gold is growing, and HSBC has also launched similar products for institutional and retail customers.