Token-Platform developments of iSTOX in Singapore
The fully-regulated Singapore-based capital markets platform for issuance and trading of digital securities, iSTOX, has received an undisclosed series A investment by one of the largest Thai investment banks, Kiatnakin Phatra Financial Group (KKP). The deal was carried out by Phatra Capital Plc., a subsidiary of KPP. iSTOX and KKP are aiming to improve the infrastructure of investing in digital securities in Asia.
The startup was admitted into the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox earlier in May this year and aims to be fully operable in 2020. Within the Sandbox, iSTOX is onboarding the first batch of issuers and investors that will be participating in issuance and trading of securities. The Sandbox allows iSTOX to experiment with compelling financial products and services.
Some of iSTOX’s objectives are to make Security Token Offering tradings in Asia more accessible, transparent and equitable. Besides these objectives, KKP and iSTOX will “collaborate on market education and outreach initiatives to facilitate a better understanding of the benefits digitized assets can bring” states Darius Liu, Co-Founder and Chief Strategy Officer of iSTOX.
BMCP is thrilled to see the developments that are happening in Singapore, with BMCP Asia coming soon we are very excited to develop the market together!