In brief: Fintech firm to launch securities exchange for digital assets

Fusang Group announced it has received approval for a securities exchange license in Labuan, Malaysia. Once launched, Fusang Exchange claims it will be the first fully licensed securities exchange focused on digital assets in Asia.

Source: Press release

Fusang Exchange will offer primary listings of public companies as a licensed securities exchange, supporting the trading of tokenized securities, cryptocurrencies, and fiat currencies. It will also run a network of licensed and regulated exchange members who will be allowed to trade directly on the platform, as well as offer listing services to crypto companies.

The company also wants to demystify the digital asset space for traditional companies with real assets. It believes the market provides an opportunity for companies that were once overlooked by traditional exchanges as a result of higher operational costs.

“Companies that want liquidity in their stock, along with owners of real assets such as real estate, can consider the benefits of listing on our exchange,” Henry Chong, CEO of Fusang, said.

Fusang Exchange is expected to launch in the second half of 2019. It is currently working to fulfill the operational and prudential conditions of its license, while working with investors to scale business operations teams in the region.

Founded in 2015, Fusang started as a family office, with offices in Singapore and Hong Kong. It announced its shift in focus to fintech and the digital asset economy early this month.