Brussels/Singapore, 4 February 2025 - Euroclear Bank announces today that it has received approval for a branch licence in Singapore. Effective 1 February 2025, the Singapore Euroclear Bank branch will replace the previous Representative office status.
The new Singapore branch will operate under a wholesale banking licence, enabling it to provide a broader range of activities. This change underscores Euroclear’s long-standing commitment to the Asia Pacific market and its strategic focus on enhancing operational resilience while increasing proximity to clients in the region, supporting the company’s broader Asia strategy.
This launch is the latest in a series of key initiatives introduced by Euroclear in the Asia Pacific region over the past year. Recent milestones include acquiring a strategic stake in Marketnode, a Singapore-based digital market infrastructure operator, collaborating with Korea to introduce the country's first omnibus account for Korean Treasury Bonds (KTB) and Monetary Stabilisation Bonds (MSB) and appointing Philippe Laurensy as CEO of Euroclear’s Asia Pacific markets, tasked with shaping and executing the company's Asian strategy to capture new growth opportunities in the region.
The establishment of the Singapore branch aligns with Euroclear's growth strategy to support the evolving needs of its clients across the Asia Pacific region. Peter Sneyers, CEO of Euroclear Bank, emphasised the significance of this transition: "We are strengthening our capabilities in Singapore to provide a more robust service to our clients and help them conduct their business more efficiently. This reflects our deep commitment to the Asian capital markets and our confidence in the expansion of business opportunities. We are excited about this new chapter in Euroclear's longstanding history in the region and are certain that our new operating structure will enhance the client experience."