The capital markets platform iSTOX may have become the first one-stop digitised securities issuance, custody and trading platform to be approved and licensed by a major regulator after graduating from the Monetary Authority of Singapore (MAS)’s Fintech Regulatory Sandbox.
ICHX Tech Pte Ltd (ICHX), the Singapore-based operator of the iSTOX platform, has been approved by MAS as a recognised market operator and capital markets services licensee.
“This is a big milestone both for iSTOX and for the financial industry as a whole,” said Danny Toe, founder and CEO of ICHX. “We started this just over two years ago as a vision of how investing could be done better. Today we truly emerge as a 21st century financial institution.”
Darius Liu, COO of iSTOX, added, “While capital markets have seen many changes and innovations over the years, the underlying core infrastructure hasn’t really changed since the advent of electronic trading decades ago. We are proud to deliver an operational platform that can address market demand while meeting the robust regulatory standards and licensing conditions set by MAS.”
MAS chief FinTech officer Sopnendu Mohanty said, “We are delighted that the regulatory sandbox has enabled iSTOX to validate its technological innovation with actual customers in a safe manner. This has again demonstrated that proportional regulations through sandbox experimentation can foster innovation and bring new benefits to consumers and the financial industry. We look forward to further our collaboration with innovators as we build a smart financial centre.”
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