Points
- SGX CEO Loh Boon Chye states the exchange is not ready for cryptocurrency listings.
- Emphasizes the need for a sustainable ecosystem with demand, governance, and structure.
- SGX faces pressure to attract high-growth company listings amid low liquidity and valuations.
- Loh leaves the door open for future crypto listings as the ecosystem evolves.
- SGX has a healthy pipeline of secondary listings and new IPOs.
Loh Boon Chye, CEO of the Singapore Exchange （SGX）, has stated that the exchange is not yet ready to allow cryptocurrency listings. Speaking on the potential timeline for such listings, Loh emphasized the importance of having a sustainable ecosystem that includes demand, governance, and structure before introducing new products like cryptocurrencies.
Loh highlighted that while SGX is known for its innovative approach, the current market conditions and infrastructure do not support the inclusion of crypto products. He acknowledged the pressure from institutional investors and industry groups to address the exchange’s ongoing challenge of attracting high-growth company listings amid low liquidity and valuations.
However, Loh also mentioned that SGX is not ruling out the possibility of crypto listings in the future as the ecosystem continues to develop. He affirmed SGX’s commitment to innovation and hinted that the exchange would consider such listings when the necessary conditions are met.
In response to queries about SGX’s plans to revive initial public offerings （IPOs）, Loh noted that the exchange has a healthy pipeline of secondary listings and new IPOs, with some companies preparing for simultaneous dual listings.
解説
- Ecosystem Requirements: Loh’s emphasis on the need for a sustainable ecosystem underscores the importance of a robust infrastructure that includes strong governance and market demand before introducing cryptocurrency listings.
- Market Conditions: The current challenges faced by SGX, such as low liquidity and valuations, highlight the complexities involved in attracting high-growth listings and the careful consideration required for new product introductions.
- Future Prospects: While SGX is not ready for crypto listings now, Loh’s open stance on future possibilities reflects a forward-looking approach that could see the exchange embrace cryptocurrencies as the ecosystem matures.
- Strategic Focus: SGX’s focus on maintaining a healthy pipeline of secondary listings and new IPOs indicates its commitment to fostering a dynamic and resilient market environment, balancing innovation with strategic growth.