Blockchain venture capital firm SPiCE VC will be the first digital security to be listed on the Fusang Exchange, adding to the growing trend of tokenized securities in a maturing crypto industry.
The move allows retail and institutional investors to access and trade SPiCE VC’s SPiCE token through a fully licensed securities exchange that is purely focused on digital assets in Asia.
“After a coordinated effort by SPiCE and Securitize to thoroughly test the technology integration and operational processes we moved to make SPiCE the very first digital security to list on Fusang. The barrier-breaking partnership will advance our mission to provide market participants more diverse investment opportunities and access to liquidity, and to further the digital revolution in capital markets,” said SPiCE VC founder Tal Elyashiv.
The news comes shortly after SPiCE VC announced a new partnership with Coinbase Custody, which offers a safe and accessible home to store their purchased assets.
Founded in 2018, the SPiCE fund is structured to provide its investors with access to promising startups within the blockchain industry. Some of the firms in which SPiCE VC has invested include Securitize, Bakkt, Archax and Lottery.com.
A Positive Trend for Digital Securities
SPiCE is already listed on Openfinance, the US-based secondary market for trading digital alternative assets. But what sets Fusang listing apart from other marketplaces is the nature of their licensing, which allows the platform to act as a secondary market, as well as listing digital securities for the first time. This compares with most other exchanges that hold a broker/dealer licence. Thus, it can only trade securities which have been listed elsewhere.
Unlike previous players in the digital securities space that seemed averse to government oversight, Fusang operates out of Singapore and Hong Kong and was issued a securities-exchange license last year in Malaysia. This licence allows the exchange to offer primary listings and also support the trading of tokenized securities, Cryptocurrencies , and fiat currencies
Additionally, this partnership marks a positive trend for digital securities - tokenized representations of a security - which have yet to materialize, other than a handful of crypto native products.
Furthermore, Fusang has launched a custody service to go with its exchange in Labuan, relying on its origins as a provider of asset management service to affluent families and individuals in Asia.
Henry Chong, Fusang’s CEO, also notes: “We’re particularly excited that our first listed digital asset is a lucrative offering for investors. The world is quickly edging into a revolution that will move the financial markets to the digital age, and we remain steadfast in our mission to provide the institutional infrastructure for the digital asset economy in Asia.”
