Tokenize Xchange Surges 24.216% on Regulatory Wins, New Products

Tokenize Xchange's latest price was $9.79, up 24.216% in the last 24 hours. This surge in price reflects the growing interest and confidence in the platform, which has been making significant strides in the cryptocurrency market.

Tokenize Xchange has received regulatory approvals across Southeast Asia, highlighting its commitment to compliance. The Singapore-based exchange secured in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution license under the Payment Services Act. Additionally, it obtained a full Digital Asset Exchange and Broker License in Thailand from the country's Ministry of Finance and Securities and Exchange Commission. These licenses position Tokenize Xchange to expand its regulated digital asset services in both markets.

The exchange launched new products enhancing accessibility and utility. In Singapore, Tokenize Xchange introduced TKX Connect, a peer-to-peer digital asset transaction and payment app enabling users to send and receive crypto instantly. Simultaneously, it rolled out Tokenize GO, an application streamlining digital asset purchases and management for retail clients. Tokenize Xchange also partnered with UnionBank of the Philippines as a key participant in Project Agila, a wholesale central bank digital currency pilot involving major financial institutions.

Tokenize Xchange deepened its payment service integrations. It extended its Visa card program in Singapore, allowing verified users to spend crypto directly at merchants accepting Visa worldwide. This initiative bridges digital assets with everyday spending networks without involving fiat conversions.

Looking ahead, Tokenize Xchange is pursuing further regulatory compliance across Southeast Asia. The exchange has initiated discussions with regulators in Malaysia and Vietnam to explore obtaining necessary licenses. This strategy aims to establish a secure and licensed operational presence in additional key regional markets.