“We are delighted to have been granted the SRO license. We see this as the first step in providing a capital markets solution for entities looking to raise capital through the primary listing and secondary trading of tokenised securities. As a result, this will enable both traditional investment vehicles, such as equities or bonds, and alternative offerings, such as fractional ownership of property and art or royalties and private equity, to be tokenised and traded and ultimately unlock access to greater liquidity.”
Digital asset trading platform Daxnet has been granted a Self-Regulatory Organisation (SRO) license by the Financial Services Commission (FSC), Barbados’ financial watchdog.
The new FSC-regulated entity powered by Tokenise will launch a multi-jurisdictional platform with a single, unified global order book, and is already welcoming listings from companies based across the globe.
Daxnet is a subsidiary of Tokenise, a Gibraltar based company which enable issuers to tokenise traditional and new asset classes utilizing blockchain technology, providing streamlined processes and frictionless market access for issuers and investors.
Tokenise’s structure is an end-to-end solution for capital raising, enabling the primary issuance, secondary trading, clearing, settlement and registration of tokenised securities, which aims to create a market and trading infrastructure that will provide access, liquidity and flexibility to investors wishing to trade tokenised assets.
Michael Kessler, Chief Executive Officer of Daxnet said:
A number of companies within the digital asset ecosystem have obtained licenses from financial watchdogs, including the DLT Provider License from the Gibraltar Financial Services Commission.
LMAX Digital, a cryptocurrency operator established by a regulated FX exchange operator and dedicated to institutional clients, has obtained its authorization in April 2019 in order to provide deep liquidity on which to trade digital currencies on an institutional scale.
The Gibraltar Blockchain Exchange (GBX), a leading institutional-grade token sale platform and Digital Asset Exchange, has been granted a full DLT-license from GFSC in late 2018, becoming the first entity with such authorization.
Huobi came in second. The leading cryptocurrency exchange founded in China has spread its wings to more crypto friendly jurisdictions after the China ban on crypto trading.
eToroX, the digital subsidiary of eToro, was the third crypto exchange to be granted a DLT license from the Gibraltar regulator. The operator was launched in April 2019 with eight fiat stablecoins and 37 pairs.
The Estonian Financial Intelligence Unit (FIU) awarded IronX, IronFX’s cryptocurrency exchange, with a license that allows the company to operate as a provider of virtual currency against a fiat currency exchange service and a provider of a virtual currency wallet service. IronX was developed in partnership with EmurgoHK, creator of the Cardano Blockchain.