Seychelles Stock Exchange to List Tokenized Securities

MERJ Exchange Limited, the only licensed securities exchange in Seychelles has announced that it would soon list tokenized securities on the nation’s primary stock market. 

According to a report on Bloomberg today, operators of the MERJ Exchange will list tokenized securities — digital assets representing shares in companies on its stock market in a few days. 

The move which will arguably birth the world’s first regulated security token listed on a national stock market would see the MERJ Exchange beat strong competitors including the Swiss exchange company, SIX, and the Gibraltar Stock Exchange.

Both the SIX exchange, and the Gibraltar Stock Exchange have the intention to launch tokenized securities on their respective stock markets soon. 

Back to Seychelles, the newly planned platform will use blockchain technology to facilitate the transfer of these digital assets among buyers and sellers. 

The Exchange believes that the adoption of blockchain-based equity token would go a long way in cutting and make way for faster trading processes. 

Chief Executive Officer of MERJ Exchange, Edmond Tuohy while commenting on the development, stated that it would satisfy many customers who waited for a moment like this. 

“There is no, at least on the exchange side, a well-regulated institution that does listing, trading, clearing, settlement, and registry that’s using distributed ledger technology. We are taking advantage of being a first mover.” Tuohy said. 

Regarding the possible timeline for tokenized securities listing on the Seychelles Stock Exchange, Tuohy hinted that after the listing of the first tokenized assets, a second listing for other digital assets would commence in a few days, which could be as many as 30 before the year ends.

He expressed a conviction that the move would receive high patronage.

Meanwhile, Coinfomania reported in June, that Swiss Stock Exchange’s planned tokenized securities listing could receive favor from the Central Bank if the banking authority agrees to a request to release a stablecoin cryptocurrency as a payment option for the digital securities.