The security token exchange iSTOX entered the Sandbox of the Singapore Monetary Authority in May last year. After more than 9 months of testing, it announced today that it has passed regulatory testing, but has not confirmed when it will officially open operations. In the past, Singapore’s financial market actively explored the potential opportunities of securities tokens and opened them to relevant exchanges to participate in sandbox testing to study different situations encountered in actual operation.
iSTOX was blessed by the Singapore government. Its early investors include Singapore Exchange and Heliconia, a subsidiary of the national sovereign fund Temasek. At the same time, Thai investment bank Phratra and Japanese securities company, Tokai Tokyo, are also among the major investors. With the green light from the Singapore Monetary Authority this time, it will be the first licensed securities token exchange in the region.
This exchange targets the securities token market and provides token issuance, custody and trading services for retail and institutional investors. Its goal is to become an intermediary for investors, allowing them to access investment projects such as start-ups, corporate bonds and hedge funds through securities tokens.
The Singapore government is one of the leaders in the Asian region in financial innovation, blockchain, cryptocurrencies and securities tokens. In August last year, the local HKMA launched a sandbox express channel to encourage participation in a few financial innovation projects. test. Earlier, when the Director of the Hong Kong Monetary Authority Ravi Menon accepted an interview with China’s 21st Century Business Herald, he said that he was maintaining close ties with the People’s Bank of China. The two sides would have in-depth discussions in the fields of blockchain and central bank virtual currencies. I hope to strengthen cooperation between the two places in the future.