Fundraising
About ADDX
ADDX, formerly iSTOX, was founded in 2017 as a blockchain-based private market exchange. In 2019, it listed its first digitized bond, marking the beginning of its digital securities journey. A pivotal milestone came in February 2020 when it graduated from the MAS FinTech Regulatory Sandbox, becoming a fully licensed and regulated platform. This regulatory approval enabled it to scale operations and attract strategic investors. In 2021, it rebranded to ADDX and launched a mobile app, broadening retail access to private assets. The company's funding rounds, including a US$50 million Series A in January 2021 and a US$78 million Pre-Series B in 2022, brought in major shareholders like SGX and the Stock Exchange of Thailand. In May 2024, ADDX launched its Fixed Income Marketplace with a Multi-Issuer Debt Issuance Programme, allowing issuers to save up to 90% in costs and enabling smaller investments in commercial paper and bonds. This innovation further democratized private market access, cementing ADDX's role as a leading digital securities platform.
ADDX's key developments in the past six months: 1) Continued growth in digital securities issuance: MoneyMax completed Series 005 under its S$200m commercial paper programme, raising S$74.42m and listing on ADDX on 12 June 2026; in August it launched Series 006, targeting S$50m–80m with a 3.50% coupon and three-month tenor. 2) OCBC distributed its first tokenised equity-linked structured note on ADDX to accredited investors. 3) Deeper institutional push: ADDX is advancing white-label cloud-native platform infrastructure for institutions such as Tokai Tokyo Securities, covering tokenisation, custody, issuance, and investment lifecycle management; it also launched ADDX Advantage for EAMs/family offices, integrating onboarding, execution and portfolio management, with real-time structured product lifecycle tracking and customisation tools.
Future focus: governance-first institutional-grade tokenisation infrastructure and white-label technology expansion; more frequent structured product issuance and derivatives capability; enriching the multi-asset platform with programmes such as the S$200m commercial paper, serving accredited investors across Asia-Pacific and globally.
Danny Toe (Founder & Group CEO, ADDX): Former BCG consultant, led ADDX's growth as a regulated private market exchange. Oi-Yee Choo (CEO, ADDX): Ex-UBS investment banking head, appointed CEO in 2022, driving expansion to $1B transactions. Inmoo Jonathan Hwang (Co-founder & COO, ADDX): Ex-BCG and SK telecom, oversees operations and strategy.