Private trading platform iSTOX is rebranding itself as ADDX. Promoted by Existing Singapore Exchange (SGX), Japan’s Tokai Tokyo Financial Holdings and Korea’s Hanwha Asset Management and with investors including Temasek subsidiary Heliconia Capital and Thailand’s Kiatnakin Phatra Financial Group, the company feels the change is necessary as it enters a phase of fast-paced growth as it prepares to facilitate more issuance deals – at least 20 this year, more than double of the deals completed in 2020. Among these issuance deals are new product lines, including private equity (such as pre-IPO unicorns), structured products, products that provide exposure to cryptocurrencies, as well as commercial papers. The company feels that with a wider range of products, its platform can better fulfil the portfolio diversification needs of investors at different points along their investment journeys. Accompanying the fresh brand name is a newly-launched ADDX mobile app, now available on both Apple and Android devices, to enable users to invest in the private markets on the go as well as on the ADDX desktop website. Existing investors can log on to the new ADDX platform with the same username and password to view their current investment holdings or to trade. The company expects to grow to about 100 employees by the end of the year, up from 70 at the end of 2020. The product, tech and growth teams will expand, with plans to recruit product managers, UI/UX designers, developers, blockchain researchers and capital markets associates.
