Blockchain Startup Graduates From Singapore’s Fintech Sandbox

Capital markets blockchain platform iSTOX recently announced that it has graduated from the Monetary Authority of Singapore (MAS)’s Fintech Regulatory Sandbox.

Graduating from the sandbox means that iSTOX has become a recognized market operator (RMO) and a capital markets services (CMS) licensee – and the first blockchain-based one approved by a major regulator.

“This is a big milestone both for iSTOX and for the financial industry as a whole,” said Danny Toe, founder and CEO of ICHX. “We started this just over two years ago as a vision of how investing could be done better. Today we truly emerge as a 21st century financial institution.”

The graduation also removes several restrictions from the company, including issuance size and investor number limits.

“We are very excited to graduate from the sandbox as we are now fully operational and moving ahead at full speed,” said Chief Commercial Officer Choo Oi Yee. “In addition to opening registration for accredited and institutional investors, we’re working hard on a pipeline of exciting issuances across different asset classes.”

iSTOX is backed by several key investors, including the Singapore Exchange (SGX), Temasek subsidiary Heliconia, and Japanese financial services company Tokai Tokyo Financial Holdings.

Photo: Jpatokal