iSTOX, a Singapore-based private capital platform, announced on Thursday it has rebranded to ADDX as it enters its next growth stage. As previously reported, ADDX 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, ADDX will greatly benefit both companies looking to raise capital and investors seeking bespoke investment opportunities. Utilising blockchain technology, the STOs available on ADDX 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.”
Oi Yee Choo, Chief Commercial Officer of ADDX, spoke about the rebranding by stating:
“The rebranding to ADDX marks an important milestone in the company’s journey. iSTOX was launched in 2017 with just four team members, focused on making safe and regulated Security Token Offerings – or STOs – a reality. We achieved that when we were licensed by the Monetary Authority of Singapore (MAS) as a financial institution last year.”
Choo also revealed that with ADDX rebranding, he and his team are “supercharging” their growth towards the same mission of democratizing capital markets.
“The demand for fairer and more equal investing opportunities for accredited investors has never been greater, and we have built the infrastructure to make those opportunities available for the first time. The new mobile app, product lines and issuances planned for 2021 reflect a new ambition and new pace of expansion.”
The name change comes just a few months after ADDX raised US$50 million through its Series A funding round. Accredited investors on the ADDX platform come from nearly 30 countries from Asia, Europe, the Americas (not including the U.S.), Australia, and New Zealand.