What Happened in The Security Token Industry This Week?

Wilfred Michael 

Wilfred Michael

News reporter

09 February 2020,
20:02
What Happened in The Security Token Industry This Week?

It is fair to say that companies piloting the growth of the security token space are primarily at their infant age, in the same manner as most cryptocurrency-related startups. That fact was well represented in this week’s security token round-up, while we also disclose two new listings on our STO page.

Singapore Clears iSTOX for Full Trading

iSTOX, a startup that offers custody, issuance, and trading infrastructure for digitized securities this week, graduated from a regulatory sandbox for fintech startups organized by the Singaporean central bank.

Upon graduating from the sandbox, iSTOX, which has also issued its first digitized securities back in November, is now cleared to offer its full suite of services to clients. In the same November, we reported that the startup raised $5 million from the Japanese holding company, Tokai Investments.

Sony VC Arm Invests in Securitize

U.S based tokenization startup, Securitize was another who raised fresh funding to develop its platform further. The venture capital arm of the electronics giant, Sony, notably participated in a successful $14M round announced by Securitize, investing an undisclosed sum.

As per Coindesk, Securitize CEO and co-founder Carlos commented that the “[Sony] investment validates Securitize as one of the most important architects of digital capital markets while adding another marquee name to a growing list of companies who are investing in digital securities as the future of global capital markets.”

New STO Listings on Stmarket

This week, we listing two security token projects for Germany-based Smartchem and Switzerland-based TradeCloud. The Smartchem STO and TradeCloud STO are at their Pre-sale and Main Sale stages, respectively.

While SmartChem operates in the industrial cleaning sector, TradeCloud deals with commodities.

 

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