Security Token Platform iSTOX is all set for Full Trading in Singapore
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Security Token Platform iSTOX is all set for Full Trading in Singapore

February 3, 2020      Tarulika Jain

According to the latest announcement of the Monetary Authority of Singapore (MAS), iSTOX a developing STO platform in Singapore received the green light for the full trading operations in the city. iSTOX, a tokenized securities trading firm which has graduated from the fintech regulatory sandbox of the central bank of Singapore, is now licensed as a capital markets services provider.

iSTOX Platform for Investors

As per the Authorities of Singapore, the platform will be available for issuance, custody and trading services for digital securities for both retail and institutional investors. The chief strategy officer of iSOTOX, Darius Liu, talked about the fulfilment of the vision, i.e. expansion of iSOTOX for various parts of financial markets.

The upgraded platform will dilute the middlemen and time-consuming settlement time. According to the chief of the firm, the Security Token Offerings (STO), which are available on its platform, will extend more options for capital fundraising and investments.

iSTOX: The blooming startup

The designers of iSTOX platform aim to offer a high level of transparency as well as the lower time of issuance to both users and compliance. The platform is not a cryptocurrency exchange but utilizes blockchain technology and smart contracts. The firm boasted about the first issuance, custody as well as trading of distributed ledger technology-based security on a single integrated platform.

The startup has received massive investments from backers in Asia after ICHX entered into MAS’s regulatory sandbox in May 2019. The early investors comprise of Singapore Exchange and Heliconia, the subsidiary of Singapore state’s owned conglomerate Temasek Holdings. With the promising performances, the startup later received investments from Thai investment bank Kiatnakin Phatra Financial Group, Japanese financial services as well as South Korean Asset Managers.

With the recent announcement of obtaining the license,iSTOX has the positive hopes to pioneer the upgraded stage of finance. With the innovative benefits and regulatory requirements of security tokens, the evolution of the industry of security token is anticipated by the advocates of the crypto world.

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Tarulika Jain
Tarulika Jain

Tarulika is an engineering graduate and an eloquent crypto blogger. Being a digital economy supporter, she keeps herself updated with the latest innovation in the crypto industry, Blockchain Technology, Internet of Things and other technologies. Currently, she curates the simple and interesting content for Crypto guides for beginners. If you want to learn more about the cryptocurrencies, latest trends of blockchain-powered AI applications, you are free to follow her on LinkedIn and Twitter.