iSTOX Joins Singapore’s Regulatory Sandbox to Launch Securities Trading

By Kapil Gauhar

iSTOX is a capital markets platform designed by blockchain-based infrastructure organisation I ICHX Tech. The company has joined Singapore’s regulatory sandbox aiming to launch digitised securities trading later this year; the company announced the news on Twitter on Friday.

Operating within the MAS’s Fintech Regulatory Sandbox since 1st of May, the Singapore-based company is now onboarding it’s the very first batch of investors and issuers and is also planning to begin trading by the Q4 of this year, as indicated by the announcement in a Medium post.

iSTOX is currently eyeing to graduate from the regulatory sandbox and then move into the full operation by 2020 as a wholly regulated capital markets platform. The iSTOX platform, boasting accessibility as its significant feature, is aimed at helping firms and investors in raising funds via tokenised securities.

Younger firms, established companies, or private asset owners can use digitised security offerings as a new approach for tapping capital markets as well as gathering investments for ideas and ventures that they believe in.

Danny Toe, the CEO of ICHX Tech, said –

“Our focus during this period is to deploy and develop the iSTOX platform within the sandbox to better serve both issuers looking to raise capital and investors seeking bespoke investment opportunities.”

Besides, iSTOX has formed a legal panel including the Baker McKenzie Wong & Leow, Allen & Gledhill LLP, and Rajah & Tann. They will serve, in iSTOX, as legal advisers to help issuers on iSTOX’s digitised security structure and processes.

ICH Group, a Singapore Investment company, incubates ICHX Tech. The company runs the iSTOX (Securities Token Offerings Exchange) platform that connects securities issuers with the investment community. Also, it sees vital investments from the Singapore Exchange and Heliconia Capital Management, that is completely owned by Temasek Holdings.

As indicated by a FinTech News Singapore, ICHX Tech by ICH Group is one of the two active participants in MAS’ regulatory sandbox. Inzsure is the first active participant, which is the insurance broker solution.