Aphinant Klewpatinond, Chief Executive Officer of the Kiatnakin Phatra Financial Group said, "The iSTOX platform will enable issuance and trading of digitizedsecurities and make our capital markets more effective. The platform presents a new way of fundraising and investment not available in conventional capital markets. Technology embedded in the infrastructure helps to lower cost and provide for re-intermediation of the markets. This results in easier fundraising for issuers and wider investment options for investors, especially regarding private market assets which are normally walled off by high transaction costs. Moreover, with the company's location in a country with forward-looking regulatory framework and a suite of accomplished and reputable shareholders like Singapore Exchange (SGX) and Heliconia Capital Management Pte. Ltd., this will support the progress into a new era of capital market service."
"We are delighted to welcome Kiatnakin Phatra as a key partner as we continue to grow. This investment and the credibility that the KKP name brings – along with its extensive investment banking and private wealth management client base – are a huge step forward in our mission to grow iSTOX into a fully regulated capital markets platform for the 21st century. We could not have asked for better partners and we look forward to collaborating with KKP to bring new opportunities to capital market participants," said Danny Toe, Founder and Chief Executive Officer of ICHX
Capital markets are currently subject to complex regulatory frameworks and processes, which incur high costs and limited access to fundraising. The iSTOX platform is designed to take on these challenges by using enabling technologies like blockchain and smart contract to provide increased transparency and reduced transaction costs of both the primary market issuance and secondary trading. The platform will serve both small and large companies seeking to raise capital through a wide range of asset classes such as equity, fixed income, and real assets. It will also provide ease of access to private markets and more choices of investment opportunities for investors.
"The success of this platform will ultimately contribute to the development of the capital markets that are more transparent, efficient and inclusive. This will lead to a subsequent growth of the overall economy," Aphinant added.
iSTOX has been granted admission to the FinTech Regulatory Sandbox of the Monetary Authority of Singapore (MAS), with a view to come out of the sandbox and transition into full operation by early 2020. The platform plans to onboard its first batch of issuers and investors, and anticipates the first issuance of digitized securities followed by admission for listing and trading within the sandbox environment to take place by the fourth quarter of 2019.