iSTOX, the Singapore-based trading platform, and digital securities issuer has reportedly hired Lim Mei Shern as its new Compliance Chief.
It has been reported that according to Crowd Fund Insider, having a 15-year veteran of the Monetary Authority of Singapore (MAS) serving as the new Head of Compliance at iSTOX will support its credibility in a country supportive of fintech firms.
Former MAS Member Views Confidence in iSTOX
Lim Mei Shern served in between the Monetary Authority of Singapore for the past 15 years, during which time she directly handled capital markets and the budding fintech sector. Her employment by iSTOX follows the company’s acceptance in May this year into Singapore’s Fintech Regulatory Sandbox, a program managed by the MAS.
Following the announcement of her hiring, Lim viewed confidence in iSTOX and the belief that it will push forward capital markets. She explained that “through the use of new technology, iSTOX will democratize investing and improve liquidity in the private markets,” accommodating investors to enter private markets at reduced costs.
However, iSTOX claims to be the first of its kind to use blockchain and smart contracts to offer issuance, settlement, custody, and trading of digitized securities.
With its sights set on leading the digitized securities segment, it is looking for leveraging Lim’s extensive knowledge in compliance to maintain the support it is already receiving from Singapore’s government.
Likewise, Darius Liu, the Co-founder, and Chief Strategy Officer stated:
“Lim’s technical expertise and experience as a former regulator will strengthen our team and help build iSTOX’s position as a trusted, transparent, and regulated capital markets platform.” Darius Liu