ChainUp Acquires Singapore-Licensed Asset Management Firm, Adds ESM Goh as Advisor
Blockchain technology solutions provider ChainUp Group is moving into wealth and asset management services via its acquisition of Bedrock Trust, a Singapore-licensed asset and wealth management firm catering to family office clients, according to an announcement published today.
ChainUp Group said the acquisition will allow it to use blockchain expertise to support the expansion of product and service offerings of Bedrock, which holds a fund management license from the Monetary Authority of Singapore.
Bedrock, will in turn be able to to provide its clients with competitive and comprehensive digital asset management solutions, with the company able to tap on ChainUp’s extensive network and expertise in Web3-related innovation and applications, the announcement said.
Post-acquisition, Bedrock will be well positioned to expand its financial services offering, with an increasing number of institutions considering exposure to digital assets.
The acquisition follows the prior announcement of ChainUp and Bedrock’s strategic partnership
earlier this year to collaborate on various fund offerings.
“This acquisition will widen the range of solutions that ChainUp provides to our valued clients. It also
demonstrates our continued commitment to full regulatory compliance, as well as developing the
blockchain ecosystem in Singapore and the region, in order to better serve institutional clients,” Sailor Zhong, CEO and executive director of ChainUp Group, said.
ChainUp Group is a Singapore-headquartered blockchain technology solutions provider that
offers blockchain solutions, including digital asset exchange solutions, NFT trading platform solutions, wallet solutions, liquidity solutions, and more for businesses in both traditional and blockchain-related industries.
The company, which just celebrated its fifth anniversary, recently appointed former Singapore Prime Minister and current Emeritus Senior Minister (ESM) Goh Chok Tong as special adviser to its newly appointed board, which is led by chairman Ooi Sang Kuang, who is also chairman of the board of directors at OCBC Bank.