Fusang given go ahead for world’s first equity token IPO

Fusang Corp (FSC) - Asia's first security token issuance exchange - will go forward with groundbreaking tokenised equity IPO

The Fusang Corp (FSC) is set to begin the issuance of the first-ever equity tokens in a landmark tokenised initial public offering (IPO).

After months of anticipation, the Labuan Financial Services Authority (Labuan FSA) announced its Q1 IPO approval this morning.

Fusang is the operator for a growing ecosystem of licenced and regulated offerings including the Fusang exchange, a licenced public listing venue for tokenised IPOs additionally positioned as a front-line regulator.

The equity tokens will give investors a direct shareholding in Fusang as Asia’s first regulated exchange for securities tokens, this could present a lucrative foothold in the future of the Asian security token market for pioneering investors.

Built on the Ethereum blockchain, each FSC equity token will represent a digital share in Fusang Corp. The $10m offering will see 2.5m equity tokens listed on the exchange in an opportunity open to both retail and institutional investors.

Bringing regulated securities into the digital era

Henry Chong, founder and CEO of Fusang, explained the decision behind the tokenised IPO.

“Our ambition is to bring regulated securities into the digital era by demonstrating that the security token ecosystem is compatible with existing securities regulatory frameworks,” explained Henry.

“As we work towards this goal, it is vital to demonstrate the operational ability of our technology by using it ourselves – rather than turning to traditional equity markets, as other digital asset exchanges have done.

“Our vision at Team Fusang is to create a digital platform where it is as easy to invest in a company as it is to buy its products online.”

The CEO also revealed the IPO proceeds will be used to scale up operations at the Fusang Exchange, with plans to attract new listings and expand its user base in 2022.

Read more: Blockstream Mining Note kickstart capital raise on Bitfinex Securities

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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