iSTOX, the first regulated capital markets platform in any major financial center to support one-stop issuance and trading of digitised securities, announced today that it has closed its Series A funding round with lead investor Kiatnakin Phatra Financial Group (KKP), a prominent Thai Investment Bank and pioneering private wealth business. The deal was struck through Phatra Capital Plc., KKP’s capital markets arm. iSTOX and KKP will work together to make capital market trading more open, equitable, and transparent.
iSTOX is a platform established and operated by ICHX Tech Pte. Ltd. (ICHX) which is currently operating under the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox. iSTOX plans to launch its first issuance of digitised securities by Q4 of 2019. Trading of these digitised securities on the iSTOX platform will begin shortly after.
“We are delighted to welcome Kiatnakin Phatra as a key partner as we continue to grow. This investment — and KKP’s stellar track record in investment banking — is a huge step forward in our mission to grow iSTOX into a fully regulated capital markets platform for the 21st century. We could not have asked for better partners and we look forward to collaborating with KKP to bring new opportunities to capital market participants,” said Danny Toe, Founder and Chief Executive Officer of ICHX.
Kiatnakin Phatra Financial Group, through Phatra Capital Plc., is Thailand’s leading investment bank with strong corporate finance franchise and extensive institutional & high-net-worth investor coverage.
Aphinant Klewpatinond, CEO of Kiatnakin Phatra Financial Group and a newly appointed director of ICHX, said, “iSTOX is a promising platform grounded in a forward-looking regulatory framework and backed by supportive stakeholders like SGX and Heliconia, so investing in iSTOX will strategically underpin KKP’s position as pioneers in the next-era capital market ecosystem. The digitisation of securities will certainly be critical in reintermediating the value chain and offering solutions not yet available in conventional capital markets. Through this collaboration, we will be able to offer more bespoke services to our clients from both a fundraising and investment perspective.”
“iSTOX looks forward to working closely with KKP in our mission to better meet the needs of today’s capital market trader. iSTOX and KKP will also collaborate on market education and outreach initiatives to facilitate a better understanding of the benefits digitized assets can bring,” said Darius Liu, Co-Founder and Chief Strategy Officer of iSTOX.
What Makes iSTOX Different?
Compared with traditional trading venues, iSTOX is a more flexible, affordable, and inclusive alternative, and offers non-conventional investment options that were previously inaccessible. By eliminating intermediaries, iSTOX seeks to redefine what capital markets should be. Drawing on proprietary blockchain and smart contract technology, iSTOX features lower costs, greater transparency, more options for users, and greater opportunity for all.
In particular, iSTOX’s open, accountable, and transparent business model makes sure that opportunity is not just limited to people with influential social networks or connections. As such, iSTOX will help to extend the boundaries of current capital markets and reach out to new segments not yet serviced by existing mechanisms, particularly private markets.
To further strengthen the digitised security ecosystem and offer ecosystem support, iSTOX has also forged new partnerships with global law firm Allen & Overy, leading audit firms PwC and Deloitte, and well-established corporate finance advisors SAC Capital and RHT Capital. iSTOX is also backed by Singapore Exchange (SGX) and Heliconia Capital Management.