Japan Finance Giant Joins Asian Digital Security Trading Market

Tokai Tokyo Financial Holdings, a financial services group based in Tokyo, will help run Asia’s first full-fledged market for digitized securities in Singapore.

Tokai Tokyo Financial Holdings will invest roughly 500 million yen ($4.58 million USD) for a 4.8% stake in ICHX Tech, the company that will operate the iSTOX market, which Singapore Exchange is preparing to launch. Joining the investment is Singaporean state fund Temasek Holdings, which holds a roughly 10.8% stake.

Digitized securities are based on the distributed ledger technology that underpins cryptocurrencies like bitcoin. Their use is expected to grow rapidly as they allow for smaller, customizable issuances and quicker settlement than traditional stocks and bonds.

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.

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