Singapore’s crypto trading platform Tokenize Xchange raises US$11.5 million, with participation from Trive and others

Singapore-based crypto trading platform Tokenize Xchange announced the completion of US$11.5 million in financing, with participation from Trive and others. This brings its Series A funding round to $23 million. The platform plans to raise $33 million by the end of 2024. Tokenize plans to increase its Singapore headcount five-fold over the next 18 months, with the new funding going toward team development. The company plans to hire a large number of compliance and operations experts. Tokenize CEO Hong Qi Yu said in a statement that this is part of Tokenize’s efforts to comply with Southeast Asia’s complex regulations on digital assets. (Tech in Asia)