iSTOX Series A funding round pumped in a confidential sum of money from Kiatnakin Phatra Financial Group (KKP) based in Thailand. iSTOX is a security token firm with backing by Singapore exchange, and this latest funding round makes is a prominent crypto player in the nation.
iSTOX has refused to bulge any other details about the funding other than that KKP is the sole investor in the deal. This latest funding round will help increase the qualified investor base, issue a diverse range of security tokens, and expand its Asian operations.
iSTOX Series A funding round will power more security tokens
ICHX Tech, the owner of the iSTOX platform, is a blockchain-based fintech infrastructure company. It receives funding from state-owned investment firm Temasek Holding’s subsidiary, Heliconia Capital Management. Singapore Exchange, too, is a significant funding partner. This latest iSTOX Series A funding shows its state roots as well.
Singapore Central Bank, along with the Monetary Authority of Singapore (MAS), added iSTOX into the fintech regulatory sandbox recently. ICHX Tech’s board members include prominent personalities, namely former MAS exclusive advisor Chua Kim Leng and SGX executive vice president Chew Sutat.
iSTOX launching digital trading by 2019’s fourth quarter
The program to set up iSTOX digital securities trading platform is on track, and operations are predicted to begin by the end of 2020. The firm wants to add digital securities to its standard procedures and provide futuristic financial services that are yet to launch in conventional capital markets. Chief executive officer of iSTOX Aphinant Klewpatinond commented that this latest funding would help tap into private capital markets and attract a new range of investors.
Darius Liu, the chief strategy officer at iSTOX, says that most investors today are not achieving their goals in terms of annual returns. The public financial markets are not delivering good performances. Naturally, they are drifting towards hedge funds, start-ups, and corporate debt — however, such markets re tightly knit and opaque plagued by long settlement times and high transaction fees.
Their new platform will ensure that investors from all classes are able to compete in high volume transactions and have equal access to the opportunities. Institutional and accredited investors will have more access to private investments in the high profile financial realm of Singapore.