iSTOX nets $5m from new partner to support its move into Japanese market

iSTOX, a digitalized securities issuance, custody and trading platform, has netted $5m from Japan-based Tokai Tokyo Financial.

Through the partnership, iSTOX has gained a strategic gateway to institutional investors and issuers across Japan with the help of Tokai’s network. The startup is in the process of establishing similar deals with players in other markets across Asia.

ICHX founder and CEO Danny Toe said, iSTOX’s parent company. “Our partnership with Tokai is an important part of our overall goal of establishing the iSTOX platform as a central pillar of the emerging ecosystem for digitized securities,”

“Japan is a very key market for us and we’re extremely happy to partner a well-respected and established institution like Tokai to bring more choice and opportunity to the Japanese financial ecosystem.”

Singapore-based iSTOX uses smart contract and distributed ledger technology to streamline the issuance and trading process. In connecting investors and issuers directly through the platform, it can improve the capital market industry, boasting more flexible, affordable and inclusive alternative investment options.

This development comes during a strong period of growth for iSTOX. The company recently completed its first issuance and secondary market listing on its platform. The FinTech is currently working towards graduation from the Monetary Authority of Singapore’s regulatory sandbox and into full operation by Q1 2020.

Tokai Tokyo Financial president and CEO Tateaki Ishida said, “The world of financial services is approaching a pivotal period of change and the emergence of transformative technologies like blockchain is among the chief causes of this.

“We believe that forward-looking providers of financial services must embrace this change if they wish to truly serve their clients in the new century.”

Earlier in the year, iSTOX signed a similar deal with Kiatnakin Phatra Financial Group which gives it access to the Thai market.

Copyright © 2019 FinTech Global

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