Seychelles Stock Exchange is the first to conduct IPO of tokenized shares

Seychelles Stock Exchange is the first to conduct IPO of tokenized shares

Seychelles Stock Exchange (MERJ) launched the sale of tokenized securities representing its own shares of the site.

Starting today, token stocks will be available on the MERJ exchange’s own platform, as well as through the Jumpstart broker-dealer, Prime Trust cryptocurrency custodian and the Globacap fundraising platform.

During the IPO, MERJ will issue 1,652,893 new shares to represent the site’s own assets at a price of $ 2.42 per share in order to raise $ 4 million to finance its expansion. Shares were tokenized on the Ethereum open blockchain. MERJ CEO Edmond Tuohy said:

“These new financial instruments are designed to change the financial industry for years to come. MERJ provides the regulatory framework needed by investors around the world for safe and legal access to these markets. ”

Just over a month ago, MERJ became the first national stock exchange to introduce
listing a tokenized security for trading. At the time, the company said it had decided to use Ethereum to register ownership of shares because it is currently “the best supported protocol for this purpose.”

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Based in Seychelles, MERJ works with issuers from North America, Europe, Asia, Australia and Africa. The exchange is licensed by the Indian Ocean Financial Services Authority as a securities exchange, clearing agency and securities depository (CSD).