Tokenised securities exchange launches in Mauritius

GMEX and exchanges group together for new blockchain securities platform set to commence trading in 2019.

A blockchain securities exchange has launched in Mauritius with tokenised asset classes including cryptocurrencies, indices and exchange-traded funds.

The HYBSE International Marketplace is a joint venture between incumbent Mauritius exchange MINDEX Holdings, technology provider GMEX Group and Hybrid Stock Exchange Corporation.

According to a statement, the exchange will integrate blockchain solutions and technology with traditional financial industries providing an ecosystem that digitalises assets onto the blockchain.

Operations are due to commence in Q1 2019 subject to regulatory approval.

“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 Hybrid Stock Exchange Corporation.

“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 three groups involved in the setting up of the exchange said they selected Mauritius after the local regulator announced it will create new licensable activities for the custodian of digital assets and digital asset marketplace and provide a regulated environment for the exchange and safe custody of digital assets.

The regulator in Mauritius has also issued guidelines on investment in cryptocurrency as a digital asset. 

“I am delighted to announce this exciting joint venture, where HYBSE will bring its vast domain knowledge, securities to be tokenised 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,” Hirander Misra, chairman of MINDEX and CEO of GMEX Group.

“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. 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.”