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Temasek Partners with SGX to Launch Singapore’s First Security Token Offerings Platform

Temasek Partners with SGX to Launch Singapore’s First Security Token Offerings Platform
Temasek Holdings, recently partnered with the Singapore Stock Exchange (SGX) to launch iSTOX, a security token offerings (STO) platform. This move marks the first of such services in a country and is yet another example of the rising stock of security tokens within the general cryptocurrency ecosystem.
Raising Capital Via STOs
According to finews.asia , SGX, and Temasek recently invested in iSTOX, the country’s first STO platform. Reports indicate that iSTOX will function as a capital market, allowing entrepreneurs to raise business capital through the sale of security tokens.
Commenting on the development, Danny Toe, CEO of ICHX – the operators of iSTOX, said:
The demands of the next generation of investors and issuers will be different, and this calls for a shift in how we should approach the process of capital funding. Utilising blockchain technology, iSTOX is able to offer STOs and address needs of both investors and issuers which are not adequately met today.
STOs differ from ICOs in that the latter involves the sale of tokenized securities. Many experts believe that STOs will provide the necessary regulatory compliance needed for blockchain-based crowdfunding.
Fiat Deals Only
The iSTOX platform will deal only in fiat transactions for the sale of tokenized securities . Despite being a blockchain-based platform with associated smart contract protocols, iSTOX is technically not a cryptocurrency exchange. Thus, the platform will not list ICO tokens or popular cryptocurrencies like Bitcoin, Ether, XRP, etc.
According to available reports, ICHX is currently pursuing licensing from the country’s Monetary Authority. Once granted, iSTOX will begin offering the issuance and trading of STOs. Also, the platform plans to provide access to liquidity in the form of a secondary trading service. Fiat currencies will be used to facilitate all the transactions on the platform.
The Emergence of Security Tokens in the Cryptocurrency Narrative
STO platforms are fast becoming a common feature of the evolving cryptocurrency ecosystem. While ICOs undoubtedly captured the imagination in 2017, stricter regulations in many countries coupled with numerous incidences of fraud seem to be dampening the ICO craze.
In its place, STOs present a more regulatory compliant form of blockchain-based fundraising. In places like the United States, for example, regulators say that most ICOs are selling securities in the guise of utility tokens. However, STOs, being securities, must comply with laid down rules and regulations.
In 2018, numerous STO platforms have emerged. The growing consensus is that security tokens could upstage utility tokens providing a more assured entry point for mainstream investors to come into the cryptocurrency space.
The post Temasek Partners with SGX to Launch Singapore’s First Security Token Offerings Platform appeared first on BitcoinAfrica.io .

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