MINDEX, GMEX Group and Hybrid Stock Exchange Corporation Limited (HYBSE) have partnered to launch a blockchain exchange platform, based in Mauritius.
The HYBSE International Marketplace will integrate blockchain solutions and technology with traditional financial industries providing a complete and governed ecosystem that digitalises assets onto the Blockchain. This partnership will for the first time, enable institutional investors access to cryptocurrency ETF’s and other crypto-instruments.
The following asset classes will be facilitated for trade in a digital tokenised format:
• Cryptonised Shares
• Cryptonised Currencies
• Commodities
• Indices
• Forex
• ETC’s (Exchange-Traded Commodities)
• ETF’s (Exchange-Traded Funds)
• CETF’s (Crypto Exchange Traded Funds).
SMEs will be able to use the HYBSE International Marketplace to seek capital by launching an Initial Blockshare Offering (IBO); a time-limited offer to purchase cryptonised-equities and other cryptonised-instruments, such as blockshares, from businesses registered on the HYBSE International Marketplace at special discounted rates. This will provide opportunities for the unbanked (more than 1.7 billion worldwide) to participate in the listing and trading of stocks.
The parties have chosen to set up the HYBSE International Marketplace in Mauritius further to the recent announcement that the Financial Services Commission (FSC), the local regulator, 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.
Hirander Misra (pictured), Chairman of MINDEX and CEO of GMEX Group, says: “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.”
“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”.
Daniel Liu of Hybrid Stock Exchange Corporation Limited (HYBSE), says: “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. 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.”
HYBSE International Marketplace will apply for a Digital Marketplace license and operations are due to commence in Q1 2019 subject to regulatory approval.
