Capital markets blockchain platform iSTOX passed Singapore’s regulatory sandbox and been approved as a recognized market operator and capital markets services licensee.
On Feb. 3 Singapore’s The Business Times confirmed that the platform developed by blockchain infrastructure firm ICHX Tech is now fully operational and licensed by the Monetary Authority of Singapore (MAS), Singapore’s central bank.
MAS which also serves as Singapore’s financial regulator launched its FinTech Regulatory Sandbox to encourage local projects to pursue innovative financial products and services within a secure, efficient and low-regulatory pressure environment.
ICHX Tech’s iSTOX will offer issuance, settlement, custody and secondary trading for digitized securities heralding a new, fully-regulated arrival on the blockchain scene in a major global financial center. Now that it has graduated from MAS’ sandbox, restrictions on iSTOX will be lifted, including limitations on the size of the issuances it can host and the number of investors that can draw in.