penmarkets Group has announced that it is exploring a capital raise of USD $50 million to support its expansion in Asia and the development of decentralised finance (DeFi) capabilities.
The Sydney-based fintech firm is targeting family offices and private wealth investors in Asia and the United States, with capital being raised to advance its DeFi strategy and broaden its presence in Singapore, the United States, Hong Kong, and select Southeast Asian markets.
According to Openmarkets Group, the capital will be used to introduce crypto trading, facilitate the tokenisation of real-world assets, and establish a digital assets treasury. The firm also plans to launch its own stablecoin and develop a centralised exchange for digital assets as part of its medium-term objectives.
Expansion plans
Openmarkets Group has identified three key pillars for the deployment of the raised funds. These include building a diversified digital treasury, advancing DeFi strategy with a focus on technology innovation and tokenisation of real-world assets, and pursuing selective acquisitions in global traditional finance markets.
The DeFi and tokenisation markets have shown rapid growth, with industry forecasts suggesting that the real-world asset tokenisation market could exceed USD $16 trillion by 2030. Openmarkets’ strategy is aimed at capturing a share of this expanding sector through active investment and partnership in the digital asset ecosystem.
Strategic initiatives
The group is currently working to establish new partnerships with DeFi organisations and is investing in talent and technology in the sector. This is part of a wider effort to position itself in an evolving digital asset landscape in Asia and beyond.
Openmarkets Group’s long-term plans also include securing necessary regulatory approvals and exploring options for potential international listings. The aim is to build a distinct digital asset ecosystem through collaborations with global partners.
Leadership perspectives
Dan Jowett, CEO of Openmarkets Group, said the capital raise marks a pivotal moment for OMG as the business accelerates its expansion across key Asian markets and the United States, and drives innovation in DeFi.
He said, “By leveraging our proven track record in B2B wealth management technology and infrastructure, we’re positioned to lead the industry through the next wave of financial transformation, building on our successful equities brokerage business.”
“The ongoing and rapid emergence of cryptocurrency and decentralised finance presents a highly compelling opportunity for investors to diversify and future-proof their portfolios,” said Dan Jowett. “As the digital asset landscape evolves, OMG is dedicated to unlocking new gateways for growth and empowering our clients to capitalise on the innovations reshaping global finance.”
The CEO’s statements highlight the group’s intention to operate at the intersection of traditional finance and DeFi, expecting the developments in digital assets to offer new investment opportunities for its clients and stakeholders.
Backing by Boman Group
Boman Group, a venture capital firm with operations in Hong Kong, Singapore, China, and Australia, currently holds full ownership of Openmarkets Group. The firm has committed to supporting Openmarkets’ capital raising efforts as it enters its next phase.
Eric Gao, Founder and CEO of Boman Group, said: “We are proud to back this next chapter in OMG’s evolution. Our conviction is rooted in OMG’s ability to execute across TradFi and DeFi, and to deliver sustainable value to stakeholders.”
“The Southeast Asia region stands at the forefront of decentralised finance innovation. Investors here are not only well-versed in digital assets, but the market environment is more dynamic and receptive to technologically progressive opportunities. This makes it an ideal landscape for OMG to accelerate their vision and deliver cutting-edge solutions to forward-thinking clients.”
Boman Group’s involvement underscores its confidence in Openmarkets’ direction and the perceived growth potential of DeFi and tokenisation in the region.
Openmarkets Group continues to emphasise its focus on technology and wealth management infrastructure as it aims to provide new asset management and trading opportunities for institutional and private clients through the integration of digital assets and decentralised finance models.