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Cryptocurrencies

MINDEX, GMEX Group and HYBSE to launch blockchain securities exchange

Wednesday 7 November 2018 | 12:03 PM CET

MINDEX, GMEX and HYBSE have partnered to launch of the joint venture HYBSE International Marketplace, a blockchain exchange platform in Mauritius.

The HYBSE International Marketplace will integrate blockchain solutions and technology with traditional financial industries, providing a governed ecosystem that digitalises assets onto the Blockchain. It will also enable institutional investors access to cryptocurrency ETF’s and other crypto-instruments. Among the asset classes that will be facilitated for trade in a digital tokenized format, one can encounter:

• Cryptonized Shares
• Cryptonized Currencies
• Commodities
• Indices
• Forex
• ETC’s (Exchange-Traded Commodities)
• ETF’s (Exchange-Traded Funds)
• CETF’s (Crypto Exchange Traded Funds)

Thus, the platform will enable SMEs to seek capital, by launching an Initial Blockshare Offering (IBO), which is a time-limited offer to purchase cryptonized-equities and other cryptonized-instruments, such as blockshares, from businesses registered on the HYBSE International Marketplace at special discounted rates. This will provide opportunities for the unbanked to participate in the listing and trading of stocks.

The companies have chosen to set up the HYBSE International Marketplace in Mauritius, while the Financial Services Commission (FSC), the local regulator, will create new licensable activities for the Custodian of Digital Assets and Digital Asset Marketplace. FSC will also 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.

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