Singapore’s ADDX and China Construction Bank Team Up

A major Chinese bank has partnered with Singapore-regulated ADDX to make overseas investments accessible to domestic investors in China


Source: Shutterstock


key takeaways

  • The partnership gives Chinese investors access to overseas opportunities in a range of assets
  • Earlier this month, ADDX became the first financial institution to recognize cryptocurrency in its assessment of accredited investor assets

Blockchain-based private market exchange ADDX has teamed up with China Construction Bank to enable domestic investors in China to engage in offshore investments.

The two firms will work together on a $200 million allocation under the Qualified Domestic Limited Partnership (QDLP) scheme, which allows experienced investors to participate in funds focused on overseas investment. This scheme enables investments in both public and private markets.

“By allowing domestic capital to buy into high-quality offshore assets, China is ensuring its investors can build globally diversified portfolios that are best positioned to preserve and expand gains from the opening-up of the country’s economy over the past few decades,” ​​ADDX CEO Oi-Yee Choo said in a statement.

ADDX will offer China-based investors access to private market opportunities issued as digital securities in a range of assets, from equities to hedge funds and venture capital funds, the statement said. Investors there have been trying to find ways around restrictions that effectively outlaw digital asset ownership.

The deal comes a year after ADDX reached an agreement with Singapore-based fund management company ICHAM, which received a $200 million QDLP allocation through the Chongqing government’s $5 billion quota. Under the agreement, ADDX became a key platform for investments made by Chinese institutions and individuals through the ICHAM fund in China.

Founded in 2017 with operations kicking in 2020, ADDX uses blockchain and smart contract technology to fractionalize private market investments, allowing it to lower minimum investments from $1 million to $10,000. The private market exchange raised $58 million in a pre-Series B funding round in May.

ADDX is licensed under the Monetary Authority of Singapore for the issuance, custody and trading of digital securities. Earlier this month, it became the first financial institution to recognize cryptocurrency in its assessment of accredited investor assets.

The memorandum of understanding with China Construction makes way for the bank to be appointed as the custodian for the $200 million investment that ADDX effectively secured. It could also distribute the fund units to its wealth clients under the QDLP scheme. China Construction Bank is one of the country’s “Big Four” banks with a market capitalization of $175 billion, making it among the top most valuable banks in the world.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png


With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.


MicroStrategy announced that it bought nearly 12,000 more bitcoin from April to late June


Unpacking Trump memecoins and the Kraken/CertiK situation


Instead, the primary path to real RWA growth is dollar-backed stablecoins


While crypto lawmaking is set to quiet down this summer, bitcoin miner activity appears to be heating up


The marketplace, which is not yet live, will have validators bid for delegation from some staked solana


Non-US investors have a new way to access RWA-focused tokens