Japan government-backed investors agree to Invest In iSTOX

Friday 22 January 2021 09:50 CET | News

Two government-backed investors in Japan have concluded an agreement to invest in global digital securities platform iSTOX, as iSTOX closed its Series A funding round with a total of USD 50 million raised.

The two investors are the venture capital arm of Japan Investment Corporation (JIC), or JIC Venture Growth Investments (JIC-VGI), and Development Bank of Japan Inc (DBJ), which is a financial institution wholly owned by the Japanese Government. Also joining iSTOX as new investors are Japan’s Juroku Bank and Mobile Internet Capital (MIC), a venture capital firm.

In this latest round of financing, existing investors Singapore Exchange (SGX), Japan’s Tokai Tokyo Financial Holdings and Korea’s Hanwha Asset Management also made fresh investments. Other existing investors of iSTOX include Temasek Holdings subsidiary Heliconia Capital Management and Thailand’s Kiatnakin Phatra Financial Group.

Founded in 2017, iSTOX is a financial technology company regulated by the Monetary Authority of Singapore (MAS) as a multi-asset platform for the issuance, custody, and secondary trading of digital securities.

After obtaining a full MAS license in February 2020, iSTOX signed a memorandum of understanding (MOU) with the Chongqing Monetary Authority in November 2020 to set up a digital securities exchange in Chongqing to serve the Chinese market, marking the first overseas expansion by iSTOX . In December 2020, iSTOX listed the world’s first unicorn fund in digital securities form.

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Keywords: digital securities, iSTOX, MAS, investment, trading, funding, asset management, Singapore Exchange, fintech, multi-asset platform, secondary trading
Categories: Banking & Fintech
Countries: Japan
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Banking & Fintech

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