The Singapore Stock Exchange and Temasek’s subsidiary Heliconia Capital Management, announced investment in a platform that does fund raising via security token offerings.
iSTOX is a capital markets platform that will allow issuers to raise capital via security token offerings (STOs).
Danny Toe, chief executive of ICHX Tech, which operates iSTOX:
“The demands of the next generation of investors and issuers will be different, and this calls for a shift in how we should approach the process of capital funding. Utilising blockchain technology, iSTOX is able to offer STOs and address needs of both investors and issuers which are not adequately met today.”
Fiat Currency Only
Although iSTOX incorporates blockchain and smart contract technology as part of the platform infrastructure, it is not a cryptocurrency exchange.
Hence, iSTOX will not be listing initial coin offerings (ICOs), utility tokens, or cryptocurrency tokens (such as Bitcoin or Ethereum)on the platform. All issuances will be bought and sold using fiat currency, Toe said.
More on the new platform here.