iSTOX Secures Funding Of USD 5 Million From Korea#s Hanwha Asset Management

Stocks and Financial Services Press Releases Tuesday January 14, 2020 08:25
SINGAPORE--14 Jan--PRNewswire/InfoQuest
Next-generation capital markets platform iSTOX has secured a USD 5 million investment from Hanwha Asset Management, South Korea's leading comprehensive asset management company.

The Korean financial leader's investment in iSTOX follows similar partnerships with Thailand's Kiatnakin Phatra Financial Group and Japan's Tokai Tokyo Financial Holdings. Other key shareholders of iSTOX include Singapore Exchange (SGX), Asia's leading international multi-asset exchange and Heliconia, a subsidiary of Temasek Holdings focused on investing in fast growing companies.

"As iSTOX continues to grow, our relationships with partners like Hanwha are allowing us to build a powerful foundation to develop iSTOX into a pioneering service that addresses the evolving needs of 21st century investors," said Danny Toe, Founder and CEO of Singapore-based ICHX Tech, which operates the iSTOX platform. "These partnerships will take on an even greater importance in early 2020, when iSTOX transitions into full operational status."

Headquartered in Seoul, Hanwha Asset Management offers a full range of financial investment products in equities, fixed income, alternative investments and multi-asset strategies across Korea, South East Asia, China, U.S. and beyond. It is a subsidiary of Hanwha Life and is the largest shareholder of Hanwha Investment & Securities.

iSTOX is the first regulated capital markets platform in any major financial centre to support the one-stop issuance, custody and trading of digitized securities. Drawing on the power of advanced smart contract and distributed ledger technology to streamline the issuance and trading process, iSTOX seeks to redefine private capital markets by allowing investors and issuers to connect and transact directly. Compared with traditional trading venues, iSTOX is a more flexible, affordable and inclusive alternative, and offers investment options that were previously inaccessible.

Now enrolled in the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox, iSTOX expects to graduate from that program in the first quarter of 2020.
Photo - https://photos.prnasia.com/prnh/20200113/2690296-1
Caption - From left to right: Yong Hyun Kim, CEO of Hanwha Asset Management, and Danny Toe, Founder and CEO of ICHX Tech

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