Digital Securities
MAS FinTech Sandbox Welcomes Capital Markets Platform ‘iSTOX’
iSTOX Admittance
In a positive development, iSTOX has been granted admission to the FinTech Regulatory Sandbox of the Monetary Authority of Singapore.
The ‘MAS Sandbox’, acts as a trial space, for those developing next-gen products – such as a platform structured around digital securities. This space is restrictive, however, as the goal is to not only foster growth, but to contain any potential harm that these projects may cause on a larger scope.
This move allows for iSTOX to begin onboarding investors and issuers later this year. These participants stand to benefit from, not only greater access to capital and investment opportunities, but much sought after liquidity.
If all goes well, these moves will mark a pivotal step towards iSTOX becoming a regulated capital markets platform in the coming years.
Key Investments
The development of the iSTOX platform, which lead to their inclusion in the MAS Sandbox, can partly be attributed to recent investments. More specifically, iSTOX received hefty infusions of capital through investment from both the Singapore Exchange and Heliconia Capital.
For more details on the kickstart that this investment gave the platform, check out our story covering the event.
SGX Invests in iSTOX to Develop Security Token Platform
Commentary
In their announcement, multiple representatives from ICHX took the time to comment on iSTOX’s inclusion to the MAS Sandbox. The following is what each had to say on the matter.
Danny Toe, CEO of ICHX, stated,
“We are delighted to have joined the MAS Regulatory FinTech Sandbox, which marks a key step toward our goal of building a future-ready regulated capital markets platform. 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…To add to our offering, we are pleased to work with top-tier law firms to further enhance the holistic issuance experience of digitized securities for our customers.”
Darius Liu, CSO of ICHX, stated,
“iSTOX is supportive of the goal to encourage more FinTech innovation in Singapore. To this end, the iSTOX platform aims to extend the boundaries of capital markets as we know them today, benefitting Singapore’s own financial services ecosystem in the process. We will continue to work with the authorities and regulators to develop an environment for financial innovation and enhance Singapore’s global standing as a dynamic, well-regulated financial centre.”
iSTOX
iSTOX is a next-gen platform, which was launched in 2017. A product of ICHX Tech, it functions as a capital markets platform, tailored around blockchain technology. iSTOX hopes to leverage this technology, in an effort to establish STOs as a pivotal means of raising capital.
ICHX
ICHX Tech is the mother company of iSTOX. Based out of Singapore, ICHX has been working to develop and release the iSTOX platform, in a bid to disrupt the way capital is traditionally raised.
Company operations are overseen by CEO, Danny Toe.
In Other News
Over the past few months, various companies have applied for various licenses and designations. Some have even been awarded entrance into various FinTech sandboxes around the globe. The following articles briefly detail a couple of these events.
Stock Exchange of Thailand Seeks Approval for Security Token Trading
CapBridge Granted Operating Licence by the Monetary Authority of Singapore
