Singapore Regulator Approves iSTOX Token Share Platform

The Monetary Authority of Singapore (MAS) has approved the operation of the iSTOX platform specializing in tradingtokenized securities, and allowed her to carry out operations in the region.

At the beginning of the week iSTOX graduated from regulatorySandboxes of the Central Bank of Singapore and became one of the first platforms for trading tokenized securities, which is licensed as a provider of services in the capital markets. The platform will provide institutional investors with services for the issuance, storage and trading of digital securities.

According to the chief operating officerDarius Liu, one of the company's goals is to make certain areas of the financial market accessible to more investors. The platform provides placement of token-shares (STOs), which will give issuers more opportunities to raise funds and investments, in addition to the existing mechanism.

From the moment the platform is releasediSTOX equity token was accepted into the regulatory sandbox for fintech companies established by the Central Bank of Singapore, the startup received a flood of investment from large companies in Asia. The platform's first investors were the Singapore Exchange (SGX) and Heliconia, a subsidiary of the Singaporean state-owned conglomerate Temasek Holdings.

The firm later received three more investments, includingFinancing from Thai investment bank Kiatnakin Phatra Financial Group, Japanese financial services company Tokai Tokyo Financial Holdings, and South Korean asset manager Hanwha Asset Management.

ICHX Board of Directors includes several formerfinancial regulators, including SGX Executive Vice President Chew Sutat and former MAS Special Advisor Chua Kim Leng.

The firm said it completed its first issue, storage and trading of tokens in shares based on distributed registry technology on a single integrated platform in November 2019.

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