BondEvalue's BondbloX Exchange Granted Regulatory Approval to Operate in GIFT City

SINGAPORE,Feb. 28,2023 -- BondEvalue's BondbloX Exchange has announced that it has received regulatory approval from the International Financial Services Centres Authority (IFSCA) to establish a branch in GIFT City. This approval,granted under the Framework for FinTech Entities,enables BondEvalue to operate in Gujarat International Finance Tec (GIFT) City under a limited use authorization.

The approval of BondbloX Exchange will allow GIFT City members and their clients to access global bonds. With bond yields currently looking very attractive due to rising global Treasury rates,Indians seeking to invest in USD have faced limited fixed income opportunities and high transaction costs. Through BondbloX,Indian investors can now invest in institutional-grade USD bonds,providing them with a wider range of investment options.

In subsequent phases,BondEvalue plans to interconnect capital markets and unlock value by offering global investors access to Indian bonds through its GIFT City branch. The recent FinTech Co-operation Agreement between Monetary Authority of Singapore (MAS) and IFSCA (September 2022) has paved the way for BondbloX's approval.

Co-founder of BondEvalue,Rajaram Kannan,expressed his excitement about collaborating with IFSCA and GIFT City members. "As a global bond exchange that has been bringing much needed modernisation to one of the largest asset classes,we look forward to collaborating with the IFSCA and GIFT City members to create and add value in the innovative financial ecosystem created by the IFSCA and the Government of India".

Interested parties can find more information about BondEvalue and its BondbloX Exchange through the IFSCA Directory athttps://ifsca.gov.in/FintechEntities#.

About BondEvalue

The BondbloX Bond Exchange ("BBX") is the world's first fractional bond exchange launched by BondEvalue. Regulated as a Recognised Market Operator by the Monetary Authority of Singapore,BondEvalue transforms the bond market by enabling investors to conduct electronic bond trading of fractional bonds ("BondbloX").

As an exchange,settlement is atomic,prices are fully transparent,and execution is on a Central-Limit-Order Book. BondEvalue's proprietary technology and enterprise-grade blockchain enable investors to buy and sell bonds in denominations of SGD/US$1,000 instead of the usual SGD 250,000/US$200,000.