—
26/09/2019 – iSTOX announced through a press release the closing of its Series-A funding led by Thai investment bank Kiatnakin Phatra Financial Group (KKP). The investment was made through KKP’s capital markets arm Phatra Capital.
The financial details of the funding were not disclosed.
Aiming to make the capital market trading more open, equitable, and transparent, the iSTOX platform is operated by ICHX Tech Pte. Ltd. (ICHX). Admitted into the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox in May, the platform is poised to graduate and be fully operational by the year 2020.
Services provided on the platform include the issuance, settlement, custody and secondary trading of digitized securities. By the end of the year, it will be launching its first issuance of digitized securities while trading service will follow shortly.
Bangkok headquartered, KKP is Thailand’s leading securities brokerage firm and is listed on the Stock Exchange of Thailand since 1988. Aphinant Klewpatinond, CEO of KKP is also the newly appointed director of ICHX.
The CEO commented, “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 digitization 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.”
Danny Toe, Founder and Chief Executive Officer of ICHX, said, “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.”
Backed by the Singapore Exchange (SGX) and Heliconia Capital Management, iSTOX also boasts partnerships with global firms such as Allen & Overy, PwC, Deloitte, SAC Capital, and RHT Capital.
Contact Info:
Email: Send Email
Release ID: 88946148
Google
RSS