Singaporean Securities Trading Platform iSTOX Closes Series A Funding

Asia Blockchain Review
October 6, 2019
Singaporean Securities Trading Platform iSTOX Closes Series A Funding

Singapore-based iSTOX, a capital markets platform for the issuance and trading of digitized securities, recently announced that it has raised an undisclosed sum in its Series A round.

According to the press release, iSTOX said the fundraising round was led by Thailand’s leading investment bank Kiatnakin Phatra Financial Group (KKP). KKP is itself the merger of Kiatnakin Bank’s commercial banking unit and Phatra Capital’s capital markets unit.

Blockchain-Powered Platform to Offer New Investment Options

Established and operated by ICHX Tech, the capital markets platform operates within the blockchain regulatory sandbox supervised by the Monetary Authority of Singapore (MAS). iSTOX plans to launch its first issuance of digitized securities by the fourth quarter of 2019 and commence trading afterward. 

With its flexibility, affordability, and inclusiveness, iSTOX offers new means for investments. It eliminates intermediaries and draws on blockchain and smart contract technology to lower costs, boost transparency, and provide more options to users.

With the Series A round concluded, iSTOX said it will work with KKP to make capital market trading more transparent, equitable, and accessible.

Digitized Securities for the Future of Capital Markets 

Aphinant Klewpatinond, CEO of KKP and a newly appointed director of ICHX, underlined the importance of securities digitization in “re-intermediating the value chain and offering solutions not yet available in conventional capital markets.” 

He hopes that the partnership will lead to “more bespoke services to our clients from both a fundraising and investment perspective.”

Darius Liu, Co-founder and Chief Strategy Officer of iSTOX, revealed that iSTOX and KKP will also work together on programs for market education and outreach “to facilitate a better understanding of the benefits digitized assets can bring.”

Source: https://e27.co/ 


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