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Markets

SGX-backed startup cleared to run digitized securities exchange

iSTOX becomes world's first central-bank approved trading platform

Securities traded on iSTOX will be denominated in fiat currencies like the Singapore dollar.   © Reuters

SINGAPORE (Nikkei Markets) -- A startup backed by the Singapore Exchange has received the green light to operate a trading platform for digitized securities, a move that could open the world of private equity and hedge funds to a much bigger group of individual investors.

Singapore-based ICHX Tech said it is now a capital markets operator recognized by the Monetary Authority of Singapore. According to the company, iSTOX, which uses distributed ledger technology to connect buyers and sellers, is the world's first central-bank approved trading platform for digitized securities.

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