The Singapore-based digital asset exchange SDAX recently announced that it had completed a $50 million B2 funding round, led by Oman's Muscat Precious Metals Refining Company (MPMR). This round of financing will enable SDAX to establish a new digital asset trading platform in Oman, accelerating its expansion into the Middle East and African markets. SDAX had previously completed a $18 million B round of funding in 2021. Additionally, in April this year, SDAX partnered with MPMR to launch a tokenized gold product backed by mid-term loan notes. The gold is stored in the Le Freeport warehouse in Singapore. SDAX CEO Rachel Chia emphasized that this funding reflects the company's commitment to making institutional private markets and alternative investments accessible to more people. At the same time, she noted that there is growing demand for tokenized gold, with HSBC also launching a similar product for both institutional and retail clients.