In its first major venture abroad, homegrown fintech firm iSTOX has signed a Memorandum of Understanding (MOU) with the Chongqing Monetary Authority, which manages monetary matters in the Chinese city. 

With Chongqing - with a population of 30 million - being one of China’s fastest growing cities with GDP the size of Norway’s, the agreement marks a giant leap for the SGX-backed fintech firm’s ambitions to expand its business in China. 

“China is the world’s fastest growing private capital market and Chinese investments have been an important enabler of economic growth, world-class companies and higher living standards – both globally and in China,” says iSTOX co-founder Darius Liu. He believes that the firm would be able to help Chinese firms access international capital by issuing digital securities to fund their expansion and diversify their investments geographically.

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