Doo Capital Market SG Pte. Ltd. (DCM), a subsidiary of financial services provider Doo Group, has been granted a Capital Markets Services (CMS) license by the Monetary Authority of Singapore (MAS).
Doo Capital now joins the ranks of other multi-asset firms, including Hashkey Capital, DigiFT and SBI Digital Markets, that have obtained CMS licenses in Singapore.
The license permits DCM to broaden its services in the Singapore market, engaging in activities like dealing in capital markets products, product financing, and providing custodial services, as outlined in the Securities and Futures Act 2001.
The license also enables DCM to offer financial advisory services in compliance with the Financial Advisers Act 2001, including advice on investment products and the publication of investment analyses and reports.
Doo Group’s foray into the Singapore market was announced during its participation in the Singapore FinTech Festival in November 2023. Earlier in 2013, the company secured two new approvals from the Securities and Futures Commission (SFC) of Hong Kong, including Type 4 (advising on securities) and a Type 9 (asset management) licenses by the regulator.
Leveraging its fintech background, Doo Group plans to tap into its presence in the market to provide a viable alternative to traditional asset management. Having secured a type 4 licence, which allows it to offer securities investment, the company mainly targets investors who are looking for a more personalised option at a lower fee threshold.
The licenses give Doo greater room to now provide more services to clients, whether they want to trade global capital markets or invest in OTC assets. Hong Kong is a key growth market for the company and a gateway connected to mainland China.
Doo Group has been cultivating strong and professional teams across the world throughout its journey. With over 550 industry professionals working professionally for its clients, Doo Group has established over 10 offices that provide services to clients across more than 40 countries and regions. The obtainment of the licenses further demonstrates the rapid growth of Doo Group in diversified global financial markets, especially during times of uncertainty, the company said.
