Asian Financial Services Giant, Tokai Tokyo, Funds Singapore Based Tokenization Platform ‘iStox’

Tokai Tokyo, a leading financial services group in Asia’s market, recently committed to fund a security tokenization project based in Singapore. The iStox platform has attracted other big boys like Thai’s, Kiatnakin Phatra Financial Group (KKP), who participated in the firm’s Series A funding held in October, 2019.

iStox is set to increase its capital base following the $5 million liquidity injection. Proceeds from last month’s funding were allocated to the growth of clientele within the iStox security token ecosystem. In addition, the startup will use some of the monies to expand operations in Asia and issue tokens based on financial products like bonds.

With the new Tokai Tokyo collaboration, iStox is optimistic that its Japanese market share will increase besides other strategic factors. The platform’s parent company ICHX Tech, is also a big deal in Singapore’s FinTech space with Heliconia Capital Management and Singapore Exchange (SGX) as its main funders.

iStox Q1, 2020 Launch

The Singapore-based security token platform plans on commencing full-scale operations in the first quarter of 2020. Given Singapore’s muscle in the FinTech space, iStox will be among the pioneer security token companies to provide regulated services in such a vibrant market. The firm noted that this would be a big milestone for them as space is still promising.

iStox’s cutting edge is its friendly transaction fees and ease of acquiring a form of financial product. Basically, the model is designed to eliminate brokers through the tokenization of stocks and bonds. Investors will instead acquire security tokens from the iStox platform and trade them within this ecosystem for value addition or liquidity.

As it stands, iStox is under the advisory of three law firms; Rajah & Tann, Baker McKenzie Wong & Leow, and Allen & Gledhill LLP. Back in Q2 of 2019, the firm was also included in Singapore’s FinTech regulatory thinktank as per the guidelines of the country’s Central Bank.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide