What Penguin Securities does

Penguin Securities is a Singapore-headquartered, MAS-regulated financial services firm founded in February 2023 that operates a hybrid business model combining traditional capital markets products with digital asset derivatives under a single integrated platform. The group is structured as Penguin Securities Holdings Pte. Ltd. (parent) with two wholly-owned subsidiaries: Penguin Securities Pte. Ltd., which holds the Capital Markets Services license (CMS101798) authorizing dealing in securities, collective investment schemes, exchange-traded derivatives, and OTC derivatives; and Penguin Securities Trading Pte. Ltd., an unregulated entity offering digital asset derivative products such as Dual Currency Investments and the Penguin Secure stable-return product. The proprietary Sindi platform provides wallet management, trade management, real-time transaction screening, API integration, and whitelisting address controls for digital asset transfers, orchestrating a curated vendor stack (BitGo, Copper.co, ELLIPTIC, Deribit, Lukka, Moody's Maxsight, sumsub). The firm serves accredited investors and institutional investors — including family offices — primarily in Singapore with a planned expansion into Japan via a local subsidiary supported by a 10% strategic stake held by Daiwa Securities Group.

Revenue is generated primarily through transaction-based commissions: brokerage commissions on FX (spreads from 1bps), equities/ETFs (0.30%-1%), government bonds/fixed income, third-party funds (with possible trailer fees), the in-house Private Credit Fund (0.15% of subscription), exchange-traded derivatives, and OTC derivatives. A recurring 20 basis points per annum account management fee applies to securities under custody, and the digital asset derivatives products generate transaction-based revenue through the unregulated trading entity. The company employs between 11 and 50 staff and has raised USD 18 million cumulatively through a Pre-Series A round in February 2026, led by Japanese institutional investors. Distribution combines an enterprise field-sales motion for AI/II clients with self-serve capabilities on Sindi, supplemented by financial literacy partnerships (FPAS MOU) and Daiwa's HWN distribution network in Japan.

The firm's go-to-market emphasizes institutional-grade security and regulatory compliance as the primary trust-building mechanisms, supported by the CSO's contribution to the IETF RFC 9629 post-quantum cryptography standard and a deliberately bifurcated entity structure separating MAS-regulated capital markets activities from unregulated digital asset derivatives. As of the latest source data, the firm is operating actively, holds only one disclosed enterprise customer relationship (Arctic Edge Solutions), and has not publicly disclosed revenue, AUM, or trade volume figures.

Name

Penguin Securities

Legal name

Penguin Securities Pte. Ltd.

Website

https://penguinsecurities.sg

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Penguin Securities is a Singapore-based, MAS-regulated financial services firm (CMS101798) that serves accredited and institutional investors with a hybrid offering combining traditional capital markets products (securities, ETFs, derivatives) with digital asset derivatives via its proprietary Sindi platform, planning expansion into Japan.

Ownership category

akta.pro rank

Product category

Investment Banking and Digital Asset Brokerage

NAICS

Investment Banking and Securities Intermediation (523150), Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Tokenized Securities & Capital Markets (Equity, Debt, Funds) (FSADAEAA)

akta.pro secondary industry

Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL)

Keywords

• Digital asset management
• Capital markets brokerage
• Crypto derivatives trading
• Institutional investment services
• Digital asset securities

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Capital Markets Brokerage Commission: Commission-based brokerage services for securities, structured products, funds, exchange-traded derivatives (multi-asset options, futures), and OTC derivatives. Revenue generated through spreads and commissions on FX, equity/ETF, bond, and structured instrument transactions.
2. Digital Asset Derivatives: Revenue from digital asset derivative products including Dual Currency Investments and Penguin Secure (Stable-Return) products offered through Penguin Securities Trading Pte Ltd.
3. Account Management Fee: Annual account management fee of 20 basis points per annum based on value of assets under custody, applicable to securities only.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Penguin Securities provides institutional-grade capital markets and digital asset investment products through MAS-regulated securities dealing and a separate unregulated digital asset derivatives entity. It bridges traditional financial products (securities, structured products, funds, exchange-traded and OTC derivatives) with digital asset exposures via proprietary structured products, served through the proprietary Sindi digital asset management platform.

Product overview

Penguin Securities operates as a multi-entity financial services group offering an integrated platform spanning digital assets, digital asset derivatives, and traditional financial products. The core product is the proprietary Sindi platform providing digital asset management with wallet management, trade management, and transaction screening. The company offers two main product lines: (1) Capital Markets products under Penguin Securities Pte Ltd (MAS-regulated) including securities, structured products, funds, exchange-traded derivatives, and OTC derivatives; and (2) Digital Asset Derivatives under Penguin Securities Trading Pte Ltd including Dual Currency Investments and Penguin Secure stable-return products. The group serves accredited and institutional investors seeking to bridge traditional finance and digital assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Sindi Platform Proprietary digital asset management platform that unlocks the full potential of digital assets with advanced management solutions, including wallet management, trade management, real-time transaction screening, API integration with service providers, and whitelisting of addresses for secure digital asset transfers. Designed for institutional and accredited investor use.
• Capital Markets Services Regulated capital markets dealing services offered by Penguin Securities Pte Ltd under MAS CMS license, covering securities and structured products, funds, exchange-traded derivatives (multi-asset options, futures), OTC derivatives, and repurchase agreements. Available to Accredited Investors and Institutional Investors.
• Digital Asset Derivatives Institutional-grade digital asset derivative products offered by Penguin Securities Trading Pte Ltd, including Dual Currency Investments providing cryptocurrency exposure with currency-style investment structures, and Penguin Secure stable-return products offering predictable returns through digital asset investment structures. Available for Accredited Investors and Institutional Investors.

Quantifiable outcome

• 70-80% reduction in onboarding time achieved within less than three months of deploying Moody's Maxsight platform
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability3 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core.

• Financial Planning Association of Singapore (FPAS)coreStrategic or Co-development Partner · 2 July 2025MOU signed to collaborate on financial literacy initiatives in Singapore. Jointly organizing educational seminars and workshops for accredited investors and family offices to understand capital markets investments and digital asset space.
• BitGocoreTechnology or IntegrationCrypto custody partner providing wallet management solutions to prevent asset commingling and ensure asset security.
• Copper.cocoreTechnology or IntegrationDigital asset custody and settlement infrastructure partner.
• ELLIPTICcoreTechnology or IntegrationBlockchain analytics and compliance partner for transaction screening and AML/CFT compliance.
• DeribitcoreTechnology or IntegrationCrypto derivatives exchange partner for digital asset derivative products.
• LukkacoreTechnology or IntegrationGlobal crypto asset software and data provider. Penguin Securities selected Lukka to transform valuation operations, optimizing asset valuation and reporting. Lukka provides enterprise data management software and valuation services for structured derivatives.
• sumsubcoreTechnology or IntegrationKYC/identity verification partner integrated into Moody's Maxsight customer lifecycle management platform for digital onboarding.
• Moody's CorporationcoreTechnology or IntegrationImplemented Moody's Maxsight customer lifecycle management platform for digital KYC and onboarding processes, achieving 70-80% reduction in onboarding time. Solution includes automated identity verification, sanctions screening, document compliance reviews, and risk assessments.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• HashKey Group: Hong Kong-headquartered licensed digital asset platform offering institutional brokerage, custody, and on-chain asset services across Asia. Comparable regulated institutional crypto services and regional APAC market focus.
• Sygnum Bank: Swiss-headquartered digital asset bank serving institutional and private clients with regulated trading, custody, lending, and tokenization. Comparable regulated institutional digital asset offering with similar focus on bridging traditional finance and crypto assets.
• OSL Group: Hong Kong-headquartered licensed digital asset platform providing brokerage, custody, and SaaS services to institutional clients. Comparable institutional digital asset offering and Asian market positioning, particularly relevant given Penguin's Japan expansion plans.
• Independent Reserve: Singapore MAS-regulated cryptocurrency exchange and broker serving retail, accredited, and institutional investors. Comparable MAS regulatory positioning and Singapore market focus, though more retail-tilted than Penguin's institutional emphasis.
• QCP Capital: Singapore-headquartered digital asset trading firm offering institutional crypto derivatives, options, and structured products. QCP is one of the closest direct peers to Penguin Securities Trading Pte. Ltd. given its focus on institutional-grade crypto derivatives and Asian market presence.
• Matrixport: Singapore-headquartered digital asset financial services platform offering trading, lending, custody, and structured products to institutional and qualified investors. Comparable hybrid TradFi-crypto offering and similar Asian institutional customer base as Penguin Securities.
• FalconX: US-headquartered institutional digital asset prime brokerage offering trading, credit, and custody to institutions globally. Comparable institutional digital asset brokerage business model and target customer base.

Broad incumbents

• DBS Bank: Singapore-headquartered major bank that operates DBS Digital Exchange and offers accredited investor crypto products and tokenization services. A broad incumbent competitor in Singapore with significantly larger balance sheet and customer base.
• Coinbase Institutional: Institutional arm of Coinbase Global offering regulated crypto trading, custody, and prime brokerage to institutional and corporate clients globally. A broad incumbent with deeper capital, multiple licenses, and significantly larger AUM under custody.

Regional players

• Coinhako: Singapore-headquartered MAS-licensed digital payment token services provider offering crypto trading for retail and institutional clients. Comparable Singapore MAS regulatory positioning though more retail-focused than Penguin.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Penguin Securities