Singapore’s ADDX, the tokenized securities exchange, has attracted investment from Korea’s KB Securities, a subsidiary of KB, Korea’s largest bank. The financing is part of its $20 million pre-Series B extended round. In May, the company announced a $58 million round that included new investors including the Thai stock exchange SET, Thailand’s third-largest bank Krungsri, as well as Hamilton Lane and UOB. Cumulative risk support amounts to $140 million.

The latest addition joins a long list of big-name investors, including the Singapore Stock Exchange (SGX) and state-owned Temasek’s investment arm, Heliconia Capital. Its sponsors extend to Japan and Korea, including the Japan Development Bank, Tokai Tokyo Financial, and Korea’s Hanwha Asset Management, among others.

Some of the funds will go towards expanding ADDX Advantage, the company’s wealth management platform for banks and brokers. It also plans to expand geographically and pursue additional licenses beyond its Singapore registration.

ADDX (formerly iStox) has already been involved in some high-profile blockchain-based digital securities issuances, such as a $100 million Singtel bond in conjunction with UOB Bank. Tokenized bonds are just one of the digital assets it supports. Others include private credit, other fixed income, private equity, hedge funds, commercial paper, and real estate.

As with all security token platforms, one of the goals is to democratize investment. That doesn’t mean the average person can afford to invest, as opportunities are limited to accredited investors for regulatory reasons.

However, the distributed ledger lowers the barriers to entry by lowering the cost of issuing and managing digital securities, which means the minimum amount invested can be much lower. Therefore, some investments that were previously restricted to institutions can now attract investments from high net worth individuals (HNWIs). In addition, ADDX provides a secondary market.