- Tokai Tokyo Financial Holdings joins SGX, Temasek subsidiary Heliconia, and leading Thai investment bank Phatra as a key investor in the iSTOX platform.
iSTOX, the first regulated capital markets platform in any major financial center to support the one-stop issuance, custody, and trading of digitized securities, announced today that it has secured USD 5 million in funding from Japan-based Tokai Tokyo Financial Holdings (Tokai) via Singapore subsidiary, Tokai Tokyo Global Investments.
The partnership with the prominent Japanese financial services firm gives iSTOX a strong strategic gateway to accredited and institutional investors and issuers across Japan through Tokai’s extensive network.
“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,” said Danny Toe, Founder and CEO of ICHX, iSTOX’s parent company. “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.”
With roots stretching back as far as 1908, Tokai offers investment and trading services to investors across 149 offices in Japan. Tokai holds consolidated net assets worth USD 1.4 billion and USD 39 billion worth of client assets under custody.
“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,” said Tateaki Ishida, President & CEO of Tokai Tokyo Financial Holdings. “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. For this reason, we are excited by our partnership with iSTOX and look forward to working with them to better serve the investing community.”
The Tokai partnership comes at a strategically important period for iSTOX and ICHX Tech; having just completed its first issuance and secondary market listing on its platform, the company is working towards graduating from the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox and into full operation in Q1 of 2020. In addition to its partnership with and investment from Tokai Tokyo in Japan, it recently struck a similar deal with Kiatnakin Phatra Financial Group, giving it strong access to the Thai market. Based in Singapore, iSTOX’s other key other shareholders include Singapore Exchange (SGX), Asia’s leading multi-asset market infrastructure and exchange operator and Heliconia, a Temasek Holdings subsidiary focusing on investment in fast-growing companies.
The company is in the process of establishing similar links to other key markets across Asia.
Drawing on the power of advanced smart contracts and distributed ledger technology to streamline the issuance and trading process, iSTOX seeks to redefine private capital markets by allowing investors and issuers to connect and transact directly. Compared with traditional trading venues, iSTOX is a more flexible, affordable, and inclusive alternative, and offers investment options that were previously inaccessible.