iSTOX Exec Says Digital Securities to Grow by “Leaps and Bounds” as DLT based Platform Secures $50M via Series A Round

Singapore-based iSTOX, a blockchain-powered digitized securities platform, has finalized a $50 million Series A funding round with participation from two state-backed investors based in Japan.

As noted by the company’s management:

“iSTOX is a future-ready capital markets platform set to usher in a new era for capital fundraising and investment. Through the use of Digitized Security Offerings, iSTOX offers a more innovative, flexible, inclusive, and efficient system for an emerging generation of investors and issuers. As part of its mission, iSTOX seeks to enable all users to transact precisely as and how they like and extends capital markets access to a wider segment of the community. iSTOX is owned by ICHX.” 

iSTOX’s new investors include the VC division of Japan Investment Corporation (JIC) and Development Bank of Japan Inc (DBJ), a financial institution that’s owned by the Japanese government, Juroku Bank and Mobile Internet Capital (MIC), a VC company.

Existing investors Singapore Exchange (SGX), Japan’s Tokai Tokyo Financial Holdings, Korea’s Hanwha Asset Management, Temasek Holdings’ subsidiary Heliconia Capital Management and Thailand’s Kiatnakin Phatra Financial Group also took part in iSTOX’s latest round.

Established in 2017, iSTOX is a Fintech firm that’s regulated by the Monetary Authority of Singapore or MAS (also the nation’s central bank), as a multi-asset platform for the issuance, custody and secondary trading of digital securities.

iSTOX graduated from the MAS Fintech Regulatory Sandbox back in February 2020.

Oi Yee Choo, Chief Commercial Officer of iSTOX, stated:

“With the new financing, iSTOX will expand our footprint both geographically and in terms of investment offerings. We will roll out private issuances by blue-chip issuers that individual investors on our platform can subscribe to in bite-size portions.”

Choo added:

“Our expansion in China, where we recently signed an agreement with Chongqing city, will continue apace. Also in the iSTOX pipeline are issuance deals involving other regions, including Europe and Australia. The digital securities space will grow by leaps and bounds in 2021.”

iSTOX entered a Memorandum of Understanding (MOU) with the Chongqing Monetary Authority in November of last year, in order to establish a digital securities exchange in Chongqing. The exchange is expected to serve the Chinese market, which marks iSTOX’s first overseas expansion effort.

As reported earlier this month, iSTOX had listed a Unicorn fund in digitized securities form, enabling the issuance of security tokens where manual processes may be automated and minimum investment ticket sizes to be reduced to $20,000. This move should help expand participation in unicorn investing to all accredited or qualified investors.

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