Copy link
Increase text size
Decrease text size
Link copied

Seychelles’ national stock exchange MERJ’s tokenized IPO goes live

Tue, 10 Sep 2019, 10:19 am UTC

MERJ Exchange, the national stock exchange of the Seychelles, has announced that the digital initial public offering (IPO), which is said to be the first ever blockchain-based IPO, is now live.


Just ahead of the launch, MERJ had teamed up with the Financial Conduct Authority (FCA)-regulated Globacap, U.S. broker-dealer Jumpstart and custodian Prime Trust.

In addition to its own platform, MERJ told CoinDesk that the shares are available through Jumpstart, PrimeTrust, and Globacap. It is using the public ethereum blockchain for tokenizing the shares.

“These novel financial instruments are here to reshape the financial industry for years to come. MERJ provides the regulatory framework necessary for investors globally to access these markets in a safe and compliant manner,” Edmond Tuohy, CEO of MERJ Exchange, said:

According to the details of the MERJ Security Token Offering, MERJ is issuing 1,652,893 new shares priced at $2.42 per share with a target of raising $4 million. MERJ said that the sale brings its valuation to $25 million.

“Our tokenised IPO offers investors of all classes an opportunity to gain fully regulated USD exposure to our existing business as an alternative listing venue, but also to invest in key market infrastructure for the rapidly evolving world of tokenised assets and crypto securities,” MERJ said.

Last month, MERJ, which is licensed by the Indian Ocean nation’s Financial Services Authority as a securities exchange, clearing agency and securities depository, became the first-ever national stock exchange to list a tokenized security.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,848.10 (-0.57%)
  • Ethereum (ETH) $168.67 (-1.00%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $359.26 (+4.53%)
  • Bitcoin SV (BSV) $267.35 (-15.64%)
  • Bitcoin (BTC) $8,848.10 (-0.57%)
Jan 17, 2020 (Friday)
13:42
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:42
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:50
Crypto dealer SFOX announces new service for investors and wealth managers
11:10
Binance in talks with TaoTao and Z Corporation for strategic partnerships in Japan
10:09
Crypto Technicals: NEO/USD set to scale new highs, 200-DMA breakout confirms bullish trend
10:08
Crypto exchange Gemini launches own insurance company "Nakamoto"
09:29
eToro, Radar and OKCoin join Coinbase-led Crypto Rating Council
08:55
Huobi joins Blockchain Turkey Platform (BCTR)
08:21
U.S. authorities urged to investigate crypto use in funding domestic terrorism and extremism
07:38
Calibra, Anchorage, Bison Trails executives elected to Libra’s new technical steering committee
07:01
Crypto Technicals: LTC/USD bounces off 5-DMA support, eyes next major hurdle at 200-DMA (65.43)
07:01
U.S. lawmakers seek tax exemption for crypto transactions under $200
06:19
Former CFTC Chair launches Digital Dollar Project in partnership with Accenture
05:56
Crypto Technicals: ETH/USD resumes upside after brief pause, eyes 23.6% Fib at 174.83
04:46
Uzbekistan to launch national mining pool and licensed cryptocurrency exchange
04:27
Crypto Technicals: BTC/USD extends sideways below 200-DMA, bias bullish
04:21
Garanti BBVA conducts real-time blockchain transfers using Takasbank's BiGA Platform
Jan 16, 2020 (Thursday)
13:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:51
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:21
Litecoin Foundation, BlockFi partner to bring more liquidity to users
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft