Security Token Platform iSTOX Admitted to Central Bank Sandbox

iSTOX, a Singapore Exchange-backed security token platform, has joined a regulatory sandbox set up by Singapore's central bank.

AccessTimeIconMay 24, 2019 at 9:00 a.m. UTC
Updated Sep 13, 2021 at 9:14 a.m. UTC

iSTOX, a Singapore Exchange-backed security token platform, has been admitted into a fintech regulatory sandbox set up by the Monetary Authority of Singapore (MAS), the country’s de facto central bank.

Operating within the sandbox since the start of this month, iSTOX is now onboarding its first batch of issuers and investors to enable trading of digitized securities on its platform from Q4 of this year, the firm announced in a Medium post Friday.

The platform aims to move into full operation by early 2020 as a “fully-regulated” capital markets platform helping companies raise funds through tokenized securities.

According to the announcement:

“With iSTOX, any issuer, be it established companies, younger companies seeking growth capital, funds or even private asset owners may use digitized security offerings as a new mechanism to tap capital markets and receive investments for an idea or venture they believe in.”

iSTOX has also set up a legal panel including three law firms – Allen & Gledhill LLP, Baker McKenzie Wong & Leow and Rajah & Tann – to advise issuers on the structure and issuance process for such securities.

The platform is operated by blockchain infrastructure firm ICHX Tech and has been backed for an undisclosed amount by Singapore Exchange and Heliconia Capital Management, a wholly-owned subsidiary of investment firm Temasek Holdings.

SGX’s executive vice president and head of equities & fixed income, Chew Sutat, and MAS' former assistant managing director, Chua Kim Leng, are also members of the iSTOX board.

Singapore image via Shutterstock 


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC