Hydra X

What Hydra X does

Hydra X is a Singapore-headquartered, MAS-licensed digital capital markets infrastructure platform founded in 2018 that provides end-to-end technology and regulated services for tokenised securities and real-world assets (RWAs). Its modular product portfolio spans three core technology pillars: tokenisation (creation, issuance, and lifecycle management of digital securities), institutional custody (regulatory-compliant digital asset storage), and digital exchange solutions comprising a high-performance Central Limit Order Book (CLOB) matching engine, RFQ/OTC negotiation, real-time price streaming, and order management. These technology products are complemented by regulated services: an MAS-licensed broker-dealer (Dealing), an MAS-regulated digital securities exchange (branded AGX), and institutional custody services. Industry application verticals include Tokenised Securities & RWA, Carbon & Sustainable Finance, Alternative Assets, Asset Managers, and Islamic Finance.

The platform is built on a Go/PostgreSQL backend with Next.js front-end surfaces, deployed on AWS (ECS/EKS, RDS, VPC, IAM, CloudWatch) with Terraform infrastructure-as-code and GitHub Actions CI/CD, integrated with the Canton Network for institutional asset issuance and settlement. The technology is differentiated by ultra-low-latency CLOB matching, asset-agnostic interoperability between traditional and digital assets, and full regulatory compliance with Singapore's Payment Services Act, Securities and Futures Act, CMSL, RMO, and AML/CFT requirements, backed by ISO 27001 certification.

Hydra X monetises through multiple B2B enterprise streams: trading and transaction fees on the AGX exchange, fee-based institutional custody, MAS-licensed broker-dealer commissions, professional tokenisation services for issuers, enterprise technology licensing to exchanges and banks, and structured product distribution on its direct investment platform with minimum investment tickets of USD 100,000-250,000. Target customers are financial institutions (banks, exchanges, brokerages, asset managers) across Southeast Asia, with named relationships including OCBC, DBS, QCP Group, SBI Ven Capital, Dinari, Kyros Capital, Pacorini Group, SDAX, JADAEX, and Trillion Network. The company operates regional offices in Singapore (HQ), Kuala Lumpur (Malaysia), and Jakarta (Indonesia), with 51-100 employees.

Name

Hydra X

Legal name

HydraX Pte. Ltd.

Website

https://hydrax.io

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Hydra X is a Singapore-based, MAS-licensed digital capital markets infrastructure platform founded in 2018 that provides tokenisation, institutional custody, broker-dealer, and exchange (AGX) technology to banks, exchanges, asset managers, and issuers across Southeast Asia.

Ownership category

akta.pro rank

Product category

Digital Capital Markets Infrastructure

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Permissioned / KYC DEXs (Institutional On-Chain Venues) (FSADABAN)

akta.pro secondary industry

DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD)

Keywords

• Digital asset infrastructure
• Tokenization platform
• Institutional custody services
• Digital securities exchange
• Capital markets technology

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Digital Exchange Trading Fees: Revenue generated from the MAS-regulated AGX digital exchange through trading fees, transaction fees, and market data services for secondary trading of tokenised assets.
2. Institutional Custody Services: Fee-based custody services for institutional clients holding traditional and digital assets, providing secure, regulatory-compliant storage infrastructure.
3. Broker-Dealer Services: MAS-licensed dealing services for buying and selling traditional and tokenised securities, generating fees from securities transactions.
4. Tokenisation Services: Creation, issuance and management of tokenised securities and assets for issuers, including STO support and private placement facilitation.
5. Structured Products Distribution: Distribution of structured investment products including ETH Basis Trade (8% target p.a.), tokenized US Treasury funds, crypto-linked notes (up to 19.7% p.a.), and tokenized trade finance (7-8% p.a.) with minimum investments of USD 100,000-250,000.
6. Enterprise Technology Solutions: Providing enterprise-grade technology infrastructure including exchange solutions, custody solutions, and market technology to exchanges, banks, brokerages, and other financial institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Hydra X provides a MAS-licensed digital capital markets infrastructure platform spanning tokenisation, institutional custody, dealing, and exchange services. It offers modular technology products (CLOB matching engine, RFQ, price streaming, order management, custody) alongside regulated services such as broker-dealer dealing and the AGX digital securities exchange. The platform enables financial institutions, issuers, and asset managers to issue, custody, and trade tokenised securities and real-world assets.

Product overview

Hydra X is a compliant ecosystem and MAS-regulated digital capital markets infrastructure platform offering a modular portfolio of technology products and regulated financial services. The platform operates across three core technology pillars — Tokenisation (creation, issuance, and lifecycle management of tokenised securities and RWAs), Custody (secure, regulatory-compliant institutional digital asset custody), and Digital Exchange Solutions (secondary market trading via CLOB matching engine, RFQ/OTC negotiation, price streaming, and order management). These are complemented by a Distribution Solution for capital raising (STOs and private placements). On the services side, Hydra X offers licensed broker-dealer dealing, a MAS-regulated digital securities exchange (branded as AGX), institutional custody services, and tokenisation services. The platform targets industry verticals including Tokenised Securities & RWA, Carbon & Sustainable Finance, Alternative Assets, Asset Managers, and Islamic Finance.

Differentiator

Problem solved

Functional benefit

Products and services

• Core Exchange Solutions

Quantifiable outcome

• Daily liquidity for tokenized treasury funds
• +3 more outcomes

Named customers12 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature11 records

Partnerships

15 partnerships are on record, tiered core, flagship and minor.

• GRADE (Global Regulated Asset & Digital Exchange Alliance)coreStrategic or Co-development PartnerHydra X is a founding member of the GRADE alliance alongside other regulated digital asset venues. The initiative aims to harmonize cross-jurisdiction listings for tokenized securities, standardize information flows, and streamline processes across multiple venues, reducing redundancy and increasing efficiency for global 'passport' functionality for tokenized securities.
• OCBC (Oversea-Chinese Banking Corporation)flagshipStrategic or Co-development PartnerHydra X partnered with OCBC's global markets team to support their digital asset transformation journey. This represents a significant bank partnership for institutional digital asset infrastructure deployment.
• DBS (Development Bank of Singapore)flagshipStrategic or Co-development PartnerHydra X collaborated with DBS on a tokenized crypto-linked structured notes initiative, supporting one of Singapore's largest banks in digital asset product innovation.
• StegX (Germany)coreStrategic or Co-development PartnerAGX (supported by Hydra X) entered a landmark partnership with StegX of Germany, enabling cross-border tokenized securities capabilities between Singapore and Germany regulatory frameworks.
• Canton NetworkcoreTechnology or IntegrationHydra X partnered with Canton Network to launch structured products on the network, including the Sigma Value Token. Hydra X also became the first licensed custodian in APAC to provide custody for Canton Coin. Key workstream involves Canton for institutional asset issuance, settlement and transaction workflows.
• QCP GroupcoreStrategic or Co-development PartnerQCP Group served as the first institutional investor for Hydra X's tokenized US Treasury Fund listed on the Canton Network, demonstrating institutional adoption of Hydra X's tokenisation infrastructure.
• DinaricoreStrategic or Co-development PartnerHydra X and Dinari partnered to provide a compliant white-label trading platform for tokenized US stocks, enabling regulated access to US equity markets through tokenisation.
• EdenXminorStrategic or Co-development PartnerHydra X and EdenX signed a strategic MOU to explore building a tokenized secondaries marketplace in the APAC region.
• WIR GroupminorStrategic or Co-development PartnerHydra X and WIR Group announced cooperation to bring digital capital markets into the WIR ecosystem.
• Kyros CapitalcoreStrategic or Co-development PartnerHydra X partnered with Kyros Capital to tokenise structured investment products, expanding the range of tokenized financial instruments available on the platform.
• Pacorini GroupcoreStrategic or Co-development PartnerHydra X partnered with Pacorini Group for tokenized trade finance offerings, providing 7-8% returns with fully collateralized trade finance secured by Pacorini's global logistics network.
• JADAEXcoreStrategic or Co-development PartnerJADAEX partners with Hydra X for regulated digital asset custodian services, with Hydra X providing technology infrastructure, security, and regulatory compliance support.
• AGX Digital ExchangecoreOthersAGX (agx.co) is the MAS-regulated digital securities exchange operated by Hydra X, serving as the primary venue for secondary trading of tokenised assets on the platform.
• ExN CapitalminorOthersSubsidiary or affiliated entity of Hydra X ecosystem, shown in company logos section.
• MetraminorOthersPartner company shown in Hydra X ecosystem logos section.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Others

• Tokeny:

Direct peers

• ADDX: Singapore-headquartered, MAS-regulated private markets digital exchange for tokenized securities, funds, and structured products. ADDX is the most directly comparable peer given shared geography, regulatory positioning, and target customer base of institutional and accredited investors.
• Fireblocks: New York-headquartered institutional digital asset custody and operations platform with global reach. Direct competitor in custody infrastructure for exchanges, banks, and trading firms, although Fireblocks operates at significantly larger scale.
• InvestaX: Singapore-based tokenization platform offering issuance, distribution, and secondary trading infrastructure for digital securities. Direct peer given overlapping MAS-regulated tokenization and secondary market services targeting similar institutional clients.
• Hex Trust: Asia-headquartered institutional digital asset custodian providing custody, staking, and DeFi access services. Direct peer given shared institutional custody focus, APAC footprint, and overlapping customer base of exchanges, banks, and asset managers.
• Securitize: US-based digital asset securities platform offering tokenization, primary issuance, and secondary trading for funds and private securities. Direct competitor in the institutional tokenization space with overlapping product capabilities around compliant issuance and trading.
• tZERO: Regulated security token exchange and tokenization platform for private and public securities. Direct peer in regulated digital securities trading, although primarily focused on US markets and security token secondary trading.

Broad incumbents

• Onyx by JPMorgan: JPMorgan's institutional blockchain unit providing tokenized collateral, payments, and digital asset infrastructure. Broad incumbent competing across tokenization, custody, and trading within a much larger institutional banking portfolio.

Emerging players

• Diamond Standard: Regulated platform for tokenized diamond and alternative asset-backed securities with integrated exchange listing. Emerging peer in the alternative asset tokenization vertical where Hydra X also operates.
• Provenance Blockchain: Public blockchain purpose-built for financial services, used by Figure for RWA tokenization including home equity, private credit, and securities. Emerging peer with overlapping institutional RWA tokenization focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInsg.linkedin.com/company/hydra-x
• Instagraminstagram.com/hydrax.io
• Xx.com/hydrax_io

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Hydra X