Digital Securities Platform iSTOX Rebrands to ADDX

iSTOX, a Singapore-based non-public capital platform, introduced on Thursday it has rebranded to ADDX because it enters its subsequent progress stage. As beforehand reported, ADDX describes itself as a future-ready capital markets platform that’s arrange usher in a brand new period for capital fundraising by way of using Safety Token Choices (STOs).

“As a versatile, inclusive and environment friendly capital markets platform, ADDX will tremendously profit each corporations seeking to elevate capital and buyers looking for bespoke funding alternatives. Utilising blockchain know-how, the STOs out there on ADDX for capital fundraising and funding supply substantial advantages to enrich present capital market mechanisms, and add to the vibrancy of Singapore’s capital market ecosystem, offering extra choices for issuers and buyers alike.”

Oi Yee Choo, Chief Business Officer of ADDX, spoke concerning the rebranding by stating:

“The rebranding to ADDX marks an necessary milestone within the firm’s journey. iSTOX was launched in 2017 with simply 4 workforce members, targeted on making secure and controlled Safety Token Choices – or STOs – a actuality. We achieved that after we had been licensed by the Financial Authority of Singapore (MAS) as a monetary establishment final 12 months.”

Choo additionally revealed that with ADDX rebranding, he and his workforce are “supercharging” their progress in the direction of the identical mission of democratizing capital markets.

“The demand for fairer and extra equal investing alternatives for accredited buyers has by no means been higher, and we have now constructed the infrastructure to make these alternatives out there for the primary time. The brand new cellular app, product traces and issuances deliberate for 2021 replicate a brand new ambition and new tempo of enlargement.”

The title change comes just some months after ADDX raised US$50 million by way of its Sequence A funding spherical. Accredited buyers on the ADDX platform come from almost 30 nations from Asia, Europe, the Americas (not together with the U.S.), Australia, and New Zealand.