Former Cabinet minister Mah Bow Tan has joined a group of seasoned market practitioners to invest in a fintech firm.
Mr Mah, who was national development minister from 1999 to 2011, has been appointed as adviser and director of the Singapore-headquartered fintech firm HydraX.
He is also non-executive chairman of GYP Properties and chairman of GlobalCities Sustainable Investment.
HydraX, an awards finalist at the Singapore FinTech Festival 2018, has a digital trading platform offering instant price discovery and asset transfers across exchanges. It also provides an electronic trading service to execute over-the-counter or off-exchange transactions.
Its management team has a total of 60 years of experience in finance, financial regulation, law and technology.
The team is headed by founder and chief executive Daryl Low, a portfolio manager at Swiss-Asia Financial Services with previous experience in Singapore Exchange's legal and regulatory policy departments.
They are supported by advisers who have invested in the firm in a personal capacity, including Mr Mohamed Nasser Ismail, senior vice-president at the Singapore Exchange, and Keppel Capital chief financial officer Paul Tham.
HydraX chief marketing officer Trina Ga said: "Professional trading platforms for traditional asset classes such as equities and forex have been available for decades.
"However, there is a dearth of purpose-built trading platforms for digital and alternative asset classes which are flexible enough to handle a dissipated trading universe, while robust enough to power the demands of modern financial marketplaces.
"HydraX solves this by providing a complete suite of professional features across traditional and cryptographic asset classes, including charting, trade execution, portfolio monitoring, asset management and automated trading."