The partnership will give the firm access to Tokai's network of institutional investors and issuers across Japan.
Blockchain-enabled capital markets platform iSTOX has received a $5-million investment from Tokai Tokyo Financial Holdings through Singapore subsidiary Tokai Tokyo Global Investments, the Singapore-based firm announced in a statement.
«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,» Danny Toe, founder and CEO of ICHX, iSTOX’s parent company, said in the statement, adding that Japan is a «very key market.»
According to the firm, Tokai holds consolidated net assets worth $1.4 billion and has $39 billion in client assets under custody.
Growth Mode
In September, iSTOX hired former Monetary Authority of Singapore deputy director Lim Mei Shen as its chief compliance officer. This was followed by the appointment of banking and investment industry veteran Choo Oi Yee, who will join from UBS in January 2020, as its chief commercial officer.
It recently completed its first issuance and secondary market listing on the platform, and is working towards graduating from the Monetary Authority of Singapore (MAS)'s Fintech Regulatory Sandbox and into full operation in Q1 of 2020, the statement said.
iSTOX is backed by the likes of Singapore Exchange, Temasek Holdings subsidiary Heliconia, ICH Group and Kiatnakin Phatra Financial Group.
