Fusang, Asia’s first fully licensed digital stock exchange, and Securitize, a U.S.-based platform for issuing and managing digital securities, or security tokens, have entered into a partnership that gives Fusang customers full access to the Securitize suite, thereby providing issuers of digital securities in Asia with industry-leading features and services under one roof.
“We are excited to fulfill the long-standing promise of security tokens,” said Henry Chong, CEO of Fusang. “The ability to digitize securities not only allows for them to be traded quicker, cheaper, and more easily, but also allows for companies to rethink the value networks they create and what it means to be a shareholder. The future of securities is digital, and we have proven this through issuing our own digital equity.”
Before establishing the partnership, Fusang engaged Securitize to facilitate the digitization of Fusang Corp’s (FSC) own equity. Its real-time blockchain-based cap table is available at fsc.fusang.co.
FSC has issued over 58 million FSC shares to date, with 4 million more shares to be offered in a current pre-IPO fundraising round), with a full and public IPO targeted to launch in 2021.
Fusang Corp.’s subsidiary, Fusang Exchange, is licensed in Labuan, Malaysia as a Securities Exchange under Part IX, Section 134 of the Labuan Financial Services and Securities Act 2010 (LFSSA). Fusang Exchange is the first fully-operational stock exchange in Asia that allows for companies to go public through a digital IPO accessible by both retail and sophisticated investors globally. Fusang Exchange supports the trading of both digital securities and cryptocurrencies.
Fusang is the licensed and registered transfer agent for all FSC digital shares, and all transfers get updated in real-time on the blockchain and are viewable to the public. FSC digital shares can be held in Fusang Vault’s institutional custody infrastructure. Issuers can access this same end-to-end solution for issuing company equity and be listed on the Fusang Exchange.
In the coming months, Fusang will further explore the utilization of Securitize’s comprehensive product offering and promote Securitize’s issuance platform to its pipeline of issuers.
Carlos Domingo, Securitize CEO and co-founder, said: “Not only will the partnership [with Fusang] help to promote digital securities adoption in Asia, but it will also give both companies more ability and opportunity to supply issuers in Asia with industry-leading technology and services.”
Securitize’s DS Protocol has the highest adoption rate in the industry, it says, and enables seamless, fully compliant trading across multiple markets simultaneously. Multiple Securitize-powered digital securities are already trading globally on public marketplaces with more in the pipeline. Securitize, Inc. is not a registered broker dealer and does not make any endorsement of issuers or offerings of their securities.
Fusang continues to seek Exchange & Network Members to form Asia’s first consortium for fully compliant security tokens, and drive mainstream adoption for both issuers and investors. Traditional brokers and digital asset firms who are appropriately licensed can directly access Fusang Exchange’s suite of products to extend their client offerings.