iSTOX, a regulated capital markets platform that provides digital security issuance and trading, announced on Tuesday it secured a $5 million investment from South Korea-based Hanwha Asset Management. This new investment comes just a couple of months after iSTOX received a $5 million investment from Tokai Tokyo Financial Holdings.
Founded in 2017, iSTOX describes itself as a future-ready capital markets platform that is set up usher in a new era for capital fundraising through the use of Security Token Offerings (STOs).
“As a flexible, inclusive and efficient capital markets platform, iSTOX will greatly benefit both companies looking to raise capital and investors seeking bespoke investment opportunities. Utilising blockchain technology, the STOs available on iSTOX for capital fundraising and investment offer substantial benefits to complement existing capital market mechanisms, and add to the vibrancy of Singapore’s capital market ecosystem, providing more options for issuers and investors alike.”
iSTOX’s platform was notably developed by ICHX Tech, a blockchain-based infrastructure company incubated by leading Singapore investment firm ICH Group. Speaking about the latest investment, Danny Toe, Founder and CEO of Singapore-based ICHX Tech, stated:
“As iSTOX continues to grow, our relationships with partners like Hanwha are allowing us to build a powerful foundation to develop iSTOX into a pioneering service that addresses the evolving needs of 21st century investors. These partnerships will take on an even greater importance in early 2020, when iSTOX transitions into full operational status.”
Hanwha Asset Management notably offers a full range of financial investment products in equities, fixed income, alternative investments and multi-asset strategies across Korea, South East Asia, China, the U.S., and beyond. Now enrolled in the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox, iSTOX is expected to graduate from the program in the first quarter of 2020.
