As of August 29th 2019, MERJ Exchange— the national stock exchange of Seychelles— announced a partnership with Globacap. The deal is said to offer regulatory compliant security tokens to investors based in the UK and across the EU.
MERJ Exchange and
Globacap’s Partnership Explained
MERJ Exchange is the national stock exchange of Seychelles.
In May of this year, the exchange received
regulatory approval to operate a security token exchange in Seychelles.
Just a few months later, in August, the exchange announced
the world’s first security token listed on a national stock market.
Now, MERJ is partnering with Globacap to offer tokenized
assets to investors based in the UK and throughout the EU.
In June of this year, Globacap successfully
exited the UK Financial Conduct Authority’s (FCA) regulatory sandbox. It
subsequently became the first regulated security token offering and administrative
platform in the UK.
Globacap has now created a public blockchain which adheres
to UK company and securities laws.
MERJ CEO Edmond Tuohy said the partnership with Globacap
notably comes as MERJ announces what it calls the world’s first IPO of security
tokens.
Tuohy
says,
“We will be the first entity anywhere in the world to hold an initial public offering of security tokens. For this ground-breaking event, it is essential for MERJ to have a partner on board with the right technology, systems and approach to grasp the significance of this milestone for financial markets. Globacap is among the leaders who are really executing in this space and that resonates well with us.”
MERJ says it
has 8.7 million of its own tokenized shares listed on the Seychelles exchange.
The company plans to offer 16% of its share capital in its IPO, which is slated
for September 2019.
Globacap
founder and CEO Myles
Milston said,
“MERJ has demonstrated unquestionable leadership and its IPO will be a landmark event in bridging regulated financial markets and the world of digital assets. We couldn’t be more excited to be a part of this journey.”
MERJ claims
it is in discussions with unspecified companies about listing additional
security tokens.
Tuohy
says,
“We are all about merging the best of the old world with the best of the new to create a new paradigm in financial markets that builds value, trust and accessibility. We are creating processes that ultimately will democratize access to global capital markets for companies and investors.”
What
do you think about MERJ partnering with Globacap? Let us know what you think in
the comments section below.
Image
courtesy of MERJ Exchange.
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