MERJ, the national stock exchange of the Republic of Seychelles, announced today the initial public offering (IPO) of its tokenized shares, becoming the first entity in history to do so, reported CoinDesk on September 10th.
The offering is now open to investors from across the globe through the exchange’s own portal, as well as through collaborations with US broker-dealer Jumpstart, US custodian Prime Trust and London based blockchain provider Globacap.
“These novel financial instruments are here to reshape the financial industry for years to come. MERJ provides the regulatory framework necessary for investors globally to access these markets in a safe and compliant manner,” said Edmond Tuohy, CEO of MERJ Exchange.
The move comes a month after MERJ beat global competitors to become the first fully regulated stock exchange to list tokenized securities worldwide, bridging traditional financial markets with distributed ledger technology (DLT). Public offering marks a significant milestone for the emerging digital asset class.
Beyond the issuance of its security token and the listing of further tokenized securities, MERJ’s mission is to become a next-generation securities exchange that runs on the blockchain.
MERJ plans to use blockchain technology to streamline all operational processes involved in operating a securities exchange from issuance and shareholder register to distribution and voting, to reduce costs for both issuer and investors.