FUSANG ADDS SECURITY TOKEN ISSUANCE AND MANAGEMENT SERVICES WITH NEW SECURITIZE PARTNERSHIP
The partnership makes Fusang a potential one-stop-shop for issuers of Digital Securities, or Security Tokens, in Asia.
LABUAN / HONG KONG / SINGAPORE, 22 JUNE 2020 — Fusang, Asia’s first fully-licensed digital stock exchange, and Securitize, a US-based platform for issuing and managing digital securities, or security tokens, have entered into a partnership that gives Fusang customers full access to the Securitize suite, thereby providing issuers of digital securities in Asia with industry-leading features and services under one roof.
"As Asia’s first fully-licensed digital stock exchange we are excited to fulfill the long-standing promise of security tokens. The ability to digitise securities not only allows for them to be traded quicker, cheaper, and more easily, but also allows for companies to rethink the value networks they create and what it means to be a shareholder. The future of securities is digital, and we have proven this through issuing our own digital equity", said Henry Chong, CEO of Fusang.
Fusang is very familiar with the Securitize platform and technology. Before establishing the partnership, Fusang engaged Securitize to facilitate the digitisation of Fusang Corp's (FSC) own equity. FSC has issued over 58 million FSC shares to date, with 4 million more shares to be offered in a current pre-IPO fundraising round (fusang.co/invest-fsc), with a full and public IPO targeted to launch in 2021.
The FSC issuance represents the first time a Labuan company has issued its actual shares directly on a blockchain, instead of tokens backed by paper shares or other contractual rights. FSC’s issuance has been fully approved by the Labuan Financial Services Authority (LFSA), a subsidiary of the Malaysian Ministry of Finance.
Fusang is the licensed & registered Transfer Agent for all FSC digital shares, and all transfers get updated in real-time on the blockchain and are viewable to the public (fsc.fusang.co). FSC digital shares can be held in Fusang Vault's institutional custody infrastructure. Issuers can access this same end-to-end solution for issuing company equity and be listed on the Fusang Exchange.
In the coming months, Fusang will further explore the utilisation of Securitize's comprehensive product offering and promote Securitize's issuance platform to its pipeline of issuers.
“We are very excited about our partnership with Fusang. Not only will the partnership help to promote digital securities adoption in Asia, but it will also give both companies more ability and opportunity to supply issuers in Asia with industry-leading technology and services,” said Carlos Domingo, Securitize CEO and co-founder.
Fusang continues to seek Exchange & Network Members to form Asia's first consortium for fully-compliant security tokens and drive mainstream adoption for both issuers and investors. Traditional brokers and digital asset firms who are appropriately licensed can directly access Fusang Exchange’s suite of products to extend their client offerings.
ABOUT FUSANG CORP (FSC)
Fusang Corp, established in 2014, is the first fully-regulated platform in Asia providing end-to-end infrastructure to support Security Token Offerings (STOs), allowing both retail and institutional investors to access the digital asset markets in a secure, compliant, and convenient way. Fusang Corp has issued all of its equity as digital shares (see fsc.fusang.co for our real-time blockchain-based cap table).
ABOUT FUSANG EXCHANGE LTD
Fusang Exchange Ltd, a subsidiary of Fusang Corp, is licensed in Labuan, Malaysia as a Securities Exchange under Part IX, Section 134 of the Labuan Financial Services and Securities Act 2010 (LFSSA). Fusang Exchange is the first fully-operational stock exchange in Asia that allows for companies to go public through a digital IPO accessible by both retail and sophisticated investors globally. Fusang supports the trading of both digital securities and cryptocurrencies.
For more information, visit fusang.co/exchange
ABOUT FUSANG CUSTODY LIMITED
Fusang Custody Limited, a subsidiary of Fusang Corp, operates the Fusang Vault, a secured digital asset custody platform, and Fusang Digital Identity, an AI-powered KYC/AML solution. Fusang Custody acts as Transfer Agent for Security Token Offerings, providing a full platform to manage & operate digital security issuances. Fusang Custody Limited is licensed as a Trust or Corporate Services Provider (TCSP) in Hong Kong.
For more information, visit fusang.co/vault
Securitize is modernising capital markets by enabling digital securities, making them easier to own, simpler to manage, and faster to trade. Securitize's innovative DS Protocol has the highest adoption rate in the industry and enables seamless, fully-compliant trading across multiple markets simultaneously. Multiple Securitize-powered digital securities are already trading globally on public marketplaces with many more in the pipeline. For more information, please visit www.securitize.io. Securitize, Inc. is not a registered broker dealer and does not make any endorsement of issuers or offerings of their securities.
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