Japanese finance giant takes million-dollar stake in digital security trading platform

Asia • November 14, 2019, 5:41PM EST
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Tokai Tokyo Financial Holdings, a Japanese financial services provider, has taken a 4.8% stake in ICHX Tech, the company that will operate the digital security trading platform, iSTOX market. The Tokyo firm will invest approximately $4.58 million for its minority stake, according to a Nikkei report.

iSTOX is a regulated platform offering the issuance, settlement, custody, and secondary trading of digital security tokens. In September, the firm announced a Series A fundraise from Phatra Financial Group, a Thai investment bank. At that time, iSTOX announced that it planned to launch its first digital security issuance in the fourth quarter of 2019. In May, the firm announced that it was admitted into a fintech regulatory sandbox set up by the Monetary Authority of Singapore (MAS), Singapore's de facto central bank.

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Steven Zheng profile picture Steven Zheng

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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