The Singapore Exchange (SGX) and Heliconia Capital Management, a wholly owned subsidiary of Singapore state fund Temasek, have invested in iStox, a platform for issuing and trading blockchain security tokens. The sum of the investment was not disclosed.
Blockchain tokens are a form of virtual currency issued to the public, and they fall under two camps. Security tokens give buyers ownership of the company that issued it and are regulated by the Singapore government. Utility tokens simply have practical utility to unlock services within the blockchain network, and are not regulated.
IStox will let companies offer security tokens in exchange for cash, but will not permit the trading of tokens for cryptocurrencies. The platform will also allow secondary trading, which is the buying and selling of tokens after an offering. At launch, only accredited investors and institutional investors will be allowed to trade on the site.
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