Technology

SEYCHELLES: Seychelles’ national stock exchange set to list ‘world-first’ regulated security token.


By added on 27/06/2019

As published on theblockcrypto.com, Wednesday 26th June, 2019.

 

Seychelles' national securities exchange, MERJ Exchange, is planning to list a regulated security token, Bloomberg writes. It would currently be the world's first exchange to list fully-licensed tokenised stocks, as per the report.

While it hasn’t shared any specific timeline, MERJ Exchange has committed to launching its Digital Assets and Security Token markets “soon," according to its website.

The exchange, which began trading equities, debt, and derivatives, in 2013, was formerly known as Trop-X Seychelles Ltd. It currently lists 31 securities and reports $325.9 million market capitalisation and is the only licensed securities exchange in Seychelles.

“We truly believe this technology will be one of the key steps toward democratizing access to global access to the capital markets,” said MERJ Exchange CEO Edmond Tuohy.

MERJ Exchange said the tokens will be traded alongside existing 'traditional' stock.