Spice VC, a tokenized venture capital fund investing in companies building the tokenization ecosystem, and Protos, a tokenized hedge fund investing in cryptos and tokens, have received approval from Fusang’s listing committee to list their security tokens on Fusang Exchange.
Both are already listed on U.S. digital exchanges and selected Fusang and its services partner, Securitize, to access investors in Asia and the world.
Fusang is set apart from other marketplaces with its securities exchange license which allows it to act as a secondary market, as well as listing digital securities for the first time as a primary listing. With a market-ready solution to a severely underserved market of issuers with limited options to list their tokens, Fusang provides access to both private and public investors.
“It’s a milestone for the digital asset industry to have two established companies fuel Asia’s security token marketplace. Both SPICE and Protos provide an attractive offering that simplifies the decision for any investor to diversify their exposure to digital assets,” said Henry Chong, CEO of Fusang.
Spice VC’s fund invests in leading companies forming the tokenization industry, including Securitize and Blockdaemon. Its security token was first made available on a U.S. regulated trading platform in November 2018. With its listing on Fusang, it will now have expanded exposure to the rest of the world, including Asia. As of 31 March 2020, the net asset value for Spice VC tokens is currently USD 1.32; it is now open for its second round of funding.
“It is another step forward in improving liquidity and overall reach for Spice investors, in addition to the current trading and liquidity options available,” said Tal Elyashiv, founder and managing partner of Spice VC. “At the same time, it is a major step in the build-up of the digital securities ecosystem in Asia, and towards the digitalization of financial markets.”
Protos, with the token symbol PRTS, is also listed on a U.S. regulated trading platform and raised funds in 2017 to begin its investment fund. The Protos team has a background in trading cryptocurrencies with a combined experience of over eleven years. The team believes that they are presenting a simple way through the PRTS token for investors to gain exposure to actively managed portfolios in Bitcoin and Ethereum as well as up-and-coming crypto assets in the DeFi (decentralized finance) space, such as Bancor, Cardano and Ren.
Protos trades with over 300 accredited individuals, family offices, institutions and funds of funds. As of 30 June 2020, their current fund includes 22 assets and a NAV of USD 0.27 for PRTS tokens.