Seychelles FSA approves MERJ to launch a Tokenized Security Platform

MERJ to launch a regulated Security tokens platform

MERJ, a Seychelles based exchange for debt, equities, derivatives is set to launch its financial exchange for tokenized assets, The company has obtained government approvals, licenses and is backed by Seychelles FSA (Financial Services Authority).

There are many platforms available that provide exchange offerings for tokens. But most of the Crypto exchanges are not fully regulated and can support institutional investors. There are very few platforms currently that support tokenized securities which is where MERJ is aiming to capture the market share.

MERJ has several plans for the future. Tokens and Digital assets are to be traded initially in the upcoming days. They are planning to start their own tokenized shares which will be introduced to the Crypto market in H1 2019.

As said above, MERJ is the only securities exchange licensed by FSA. Central Bank of Seychelles authorized MERJ as settlement system operator and clearing system operator. The platform has to go through many steps in order to gain government licenses.

Users can expect a few updates from MERJ including mobile apps for both IOS and Android platforms, a new portal for client and desktop client for trading purposes.

Edmond Tuohy, CEO of MERJ said:

“MERJ is proud to be building a new 21st-century global financial market ecosystem, We’re transcending global market silos and geographic boundaries, and pioneering secure market access for all, regardless of the size or origin of the investor. Until now, there has been no fully-fledged securities platforms open to the retail public where issuers can list security tokens and get secondary market liquidity. We’re breaking the mold to the benefit of issuers and investors the world over.”

Dr. Steve Fanny, CEO of the Financial Services Authority said,

“MERJ group companies have been licensed and regulated by the Financial Services Authority since 2012. MERJ has worked closely with the FSA since that time. The FSA continues to follow new promising financial and regulatory technologies and encourages innovation in the securities market and non-bank financial services that it regulates, such as those being put in place by MERJ.”

MERJ hopes that governments of other countries also take this initiative and license financial exchanges to list tokenized assets.

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.