Capital markets platform iSTOX, based in Singapore, has confirmed plans to launch digital securities trading later this year.
As reported by Cointelegraph, the firm was added to the FinTech Regulatory Sandbox of the Monetary Authority of Singapore (MAS) – the city-state’s central bank and financial regulatory authority – on May 1, and will begin providing services for trading digitized services from Q4 2019 onwards.
iSTOX, operated by blockchain infrastructure firm ICHX Tech, expects to graduate from the sandbox and become fully operational by 2020. The company also claims to be the first fully regulated platform in a major global financial center offering issuance, settlement, custody, and secondary trading of digitized securities.
Through its platform, the firm says it provides investors with access to investment opportunities that would otherwise be beyond their reach. Similarly, iSTOX notes that issuers on its platform can gain access to “otherwise inaccessible segments of the capital markets in a secure, compliant and cost-effective manner.”
The MAS launched its FinTech Regulatory Sandbox to allow local projects to develop new financial products and services within a secure and efficient ecosystem.
In late 2018, the authority expanded its regulatory framework to enable payment operators to bring selected cryptocurrencies under its jurisdiction. The central bank has since submitted a new bill, which is expected to replace two existing pieces of legislation related to payments and remittances.
Sopnendu Mohanty, CFO of the MAS, recently acknowledged the potential of blockchain technology to streamline cross-border payments after the authority successfully conducted its first cross-border blockchain transaction in digital currency in cooperation with the Bank of Canada.
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