Securities issuance and trading platform iSTOX has bagged a $5m investments, just months after closing its former round.
The new investment was supplied by Hanwha Asset Management, a South Korean comprehensive asset management firm.
iSTOX secured a $5m investment from Japan-based Tokai Tokyo Financial in November 2019 as part of a strategic partnership between the two. The deal saw iSTOX gain access to institutional investors and issuers across Japan via Tokai’s network.
Singapore-headquartered iSTOX uses smart contracts and distributed ledger technology to streamline the issuance and trading process. The company aims to adapt the private capital markets to let investors and issuers connect and transact directly.
It claims to be more flexible, affordable and inclusive to alternatives.
The FinTech is currently engaged with the Monetary Authority of Singapore FinTech Regulatory Sandbox which it expects to graduate from during the first quarter of 2020.
Last year, the company also formed a partnership with Kiatankin Phatra Financial Group to give it access to the Thai market.
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