Fusang Exchange, part of the Hong Kong-based financial provider Fusang Group, has just announced they have been approved by regulators in Labaun, Malaysia. The approval means that Fusang Exchange will be able to legally operate a digital securities exchange.
The security token industry is booming in Asia. News out of Singapore recently said that CapBridge Pte LTD. would be starting their own security token exchange. The date for that is yet to be released. Then, we also had the news of CEZEX opening its doors in the Philippines, considered to be the first security token trading platform in Asia.
However, now Fusang Exchange is joining CEZEX in opening up yet another licensed STO venue in Asia. This is only the second one formally approved for trading on the entire continent.
The Fusang Exchange
What’s interesting about Fusang Exchange is that it will operate as a traditional securities exchange, but will also offer security token markets. Whereas CEZEX is a more traditional cryptocurrency exchange, Fusang began as a venue for securities.
Due to regulatory policy, the Fusang Exchange will only be available to licensed investors, though. In doing so, the exchange hopes to target both crypto-related companies issuing their own security tokens and traditional business seeking tokenization. Fusang claims its appeal is that it can lower costs for some companies by using their services.
The official launch of Fusang Exchange is planned for sometime in the first-half of 2019. It is believed that this is the first time a security token exchange has been approved in Malaysia, and there may be more to come.
What do you think of the news? Will Asia lead the way for security tokens? Let us know your thoughts in the comments.
Image courtesy of Fusang Exchange.