The Singapore-based digital securities platform iSTOX announced the completion of its Series A financing round, which raised a total of $50 million in investments, according to IBS Intelligence.
The round was led by the venture capital arm of the Japanese Investment Corporation (JIC) — JIC Venture Growth Investments (JIC-VGI) — and the Development Bank of Japan (DBJ), owned by the government of the country. New investors to iSTOX include Juroku Bank and venture company Mobile Internet Capital.
As a result of the round, the Singapore Exchange (SGX), Japan’s Tokai Tokyo Financial Holdings, and Korea’s Hanwha Asset Management increased their equity stakes in the platform.
The Singapore-based iSTOX enables private-market securities issuance, including stocks, bonds, and funds. By creating security tokens, the platform makes assets accessible to retail investors — the use of blockchain technology and smart contracts has lowered the minimum investment threshold from $1 million to $20,000.
According to iSTOX chief commercial officer Oi Yi Chu, the raised funds will be used to expand its geographic footprint, including expansion into China. The firm also plans to develop new investment offerings by enabling investments in small slices [simple_tooltip content=’акции крупнейших по капитализации предприятий’]»blue chips»[/simple_tooltip].
“Capital markets are rapidly transforming thanks to technological advances. The MAS regulator and our institutional investors have been forward-looking and progressive, and they fully support the changes,” said Oi Yi Chu.
In 2020, venture investments in the crypto industry exceeded $3 billion, compared with 2019, the average deal size rose by 32.5%.
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