iSTOX the blockchain tokenization platform, announced that its platform tokenized private equity bonds issued by Astrea VI. The Astrea bonds are based on a diversified portfolio of private equity and were issued by a subsidiary of Azalea Group, which is indirectly wholly owned by Temasek, the state-backed investment firm.
The key benefits cited through the tokenization are the lowering of issuance denominations to US$20,000 as opposed to $200,000 for Class B bonds.
Using smart contracts also enables the automation of otherwise manual processes during issuance, distribution, and post-sale, including corporate actions such as coupon payments. Hence by reducing costs, it’s possible to lower the bond denominations and a larger number of investors can participate. Investors can now trade the tokens on iSTOX’s exchange.
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