Blockchain capital markets platform iSTOX joins Singapore's sandbox

Capital markets platform iSTOX, designed by blockchain-based infrastructure firm I ICHX Tech, has joined Singapore’s regulatory sandbox to launch digitized securities trading late this year, the firm announced on Twitter on Friday.

Operating within the Monetary Authority of Singapore (MAS)’s Fintech Regulatory Sandbox since May 1, the Singapore-based firm is now onboarding its first batch of issuers and investors and is planning to start trading by the fourth quarter this year, according to its announcement in a Medium post.

iSTOX is eyeing to graduate from the sandbox and move into full operation by 2020 as a fully regulated capital markets platform. Boasting accessibility as its major feature, the iSTOX platform aims to help companies and investors raise funds through tokenized securities.

Established firms, younger companies, or private asset owners can all use digitized security offerings as a new method to tap capital markets and gather investments for ideas and ventures they believe in.

“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,” Danny Toe, ICHX Tech CEO, said.

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

ICHX Tech is incubated by Singapore Investment company ICH Group. The firm runs the Securities Token Offerings exchange platform, iSTOX, which connects securities issuers with the investment community. It also sees key investments from the Singapore Exchange and Heliconia Capital Management, which is fully owned by Temasek Holdings.

According to Fintech News Singapore, ICHX Tech is one of the two active participants in MAS’ regulatory sandbox. The first one is the insurance broker solution Inzsure.