Fusang Group Receives Securities Exchange Licence in Labuan

Fusang Group has received approval for a Securities Exchange license in Labuan, Malaysia under Part IX, Section 134 of the Labuan Financial Services and Securities Act 2010 (LFSSA). Once launched, Fusang Exchange will be the first fully-licensed securities exchange focused on digital assets in Asia, according to a media release.

As a licensed Securities Exchange, Fusang Exchange will be able to offer primary listings of public companies and will support the trading of tokenized securities, cryptocurrencies, and fiat currencies. Running similarly to traditional securities exchanges around the world, Fusang Exchange will run a network of licensed and regulated exchange members who will be allowed to trade directly on the platform.

Seeking to Demystify the Digital Asset Space

The Fusang Group was established in 2015 and is dedicated to providing Asian markets with institutional financial infrastructure for the digital asset economy. With offices in Hong Kong, Malaysia, and Singapore, the team works to fulfill its mission of serving investors in a secure, compliant and convenient way.

Fusang Exchange will be offering its listing services not only to crypto companies but is also seeking to demystify the digital asset space for traditional companies with real assets.

Launch in the Second Half of 2019

Fusang Exchange is expected to launch in the latter half of 2019. It is currently working to fulfill the operational and prudential conditions of its license while working with investors to scale business operations teams in the region.

«We’ve always seen Labuan as a fantastic option for businesses to work in, and this licence reiterates Labuan FSA’s dedication to making Labuan a pro-business environment. We look forward to working with them to bring a whole new range of companies and industries into the digital asset space,» said Henry Chong, CEO of Fusang.