Mauritius-Based Blockchain Securities Exchange Planned By MINDEX, GMEX Group And HYBSEbr>
Called the HYBSE International Marketplace, the platform will integrate blockchain solutions and technology with traditional financial industries to provide a complete and governed ecosystem that digitalizes assets onto the blockchain. The platform will allow institutional investors to access asset classes in a digital tokenized format. These include cryptonized shares, cryptonized currencies, commodities, indices, forex, exchange-traded commodities (ETC), exchange-traded funds (ETF) and crypto exchange traded funds (CETF).
“I am delighted to announce this exciting joint venture, where HYBSE will bring its vast domain knowledge, securities to be tokenized and its blockchain-based digital exchange technology and MINDEX, supported by GMEX, will provide scalable institutional grade digital trading platforms and business and operational expertise to set up the new marketplace,” said Hirander Misra, Chairman of MINDEX and CEO of GMEX Group.
Through the marketplace, small and medium-sized enterprises (SME) will be able to raise capital by launching an Initial Blockshare Offering (IBO), which will allow investors to purchase cryptonized-equities and other cryptonized-instruments, such as blockshares, from businesses registered on the platform.
“The new venture between the three companies will bring about an exciting new development, not only for the crypto sphere, but global capital markets as a whole,” said Daniel Liu of HYBSE. “As we embark on a journey to pave a previous uncharted way forward, this will inevitably create an ideal prospect to move the evolution of all financial systems, light-years ahead. We must also maintain a conscious belief of the power of this evolutionary step, as not to disrupt current global markets, but to rather bolster a new way of thinking that encompasses a decentralised and truly free market entity.”
The companies have chosen to set up the marketplace in Mauritius after the Financial Services Commission (Mauritius FSC) announced that it will introduce two new licensable activities – Custodian of Digital Assets License and Digital Asset Marketplace License. The FSC is also planning to implement guidelines for investment in cryptocurrencies as digital assets. The companies said that the marketplace will apply for a Digital Marketplace License and operations are due to commence in the first quarter of 2019.
“We welcome the new regulatory framework for digital assets in Mauritius and we are thrilled to be at the forefront of market development as one of the first ventures to set up under the new regime,” said Misra. “We are firmly convinced that there is a massive opportunity for Mauritius to position itself as a major global hub in this dynamic space underpinned by strong governance and regulation to ensure trust.”