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.