MERJ Stock Exchange In Seychelles Is The First To List Tokenized Security
Tokenized securities are the future of trading. At least that is what MERJ, a stock exchange based in Seychelles, believes. The company is set to be the first one in the whole world to list a tokenized security on its offerings.
The exchange, which is licensed by the regulators of the country, is using the new token to represent equity for its own platform. The company revealed to the media that it will offer its shares later this year, too.
One of the ideas is to not only tokenize the own investments of the company but to do it with and for other companies as well. According to MERJ, several companies are currently discussing the tokenization of their own shares.
The CEO of the exchange, Edmond Tuohy, affirmed that the stock exchange has combined the best of the old and new world by tokenizing assets and offering them on a more traditional exchange. This way, it can bring innovation at the same time that it offers the security and trust of its platform.
MERJ will use Ethereum blockchain and its new token will have the MERJ-S ticker symbol. It will only be traded there, unlike normal decentralized cryptos, and it is trading at $2.42 USD at the time of this report. The market cap of MERJ-S is $21,015,781 USD.
Now, the next move of the company will be to use blockchain tech in order to find new ways to cut costs. For instance, digitizing all its processes and streamline them in order to cut the time that it takes to invest.
The stock exchange was originally founded back in 2013 and it is licensed as a clearinghouse, stocks exchange and CSD, too.