The BEX Mauritius Block Exchange has become the first-ever cryptocurrency exchange to get licensed for securities trading. The announcement was made public via a press release this morning. In 2020, the Mauritius Financial Services Commission created a framework for licensing security tokens. This allows blockchain-based securities platforms to avoid lawsuits by obtaining a license.
The development was part of a strategy to position Mauritius as a hub for legal security token trading.
Pascal Niedermann, CEO and Chairman of BEX Exchange, commented on the development, saying:
“This Securities Trading Systems License granted to BEX is a game changer for us and for the participants in the global capital markets. It allows unprecedented and unparalleled cross-border access to capital and innovations…..We are excited to be part of a necessary ground-breaking transition of the global capital markets into the next chapter of a digital age that has to become inclusive, accessible to anybody, driven by speed, simplicity, security, and transparency.”
BEX Mauritius Block Exchange is a firm that tokenizes traditional assets and securities, making them tradeable on the platform. The firm offers these services to local and international investors. Trading is available 24/7 on the platform, and every transaction executed on the website is secure and traceable.
BEX also helps businesses and institutions raise capital without the involvement of third parties. The beta version of the website is available now at BEX Global. According to Business Wire, the company’s mainnet launch and the appointment of the BEX executive team will take place in 2023.
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