Hong Kong-headquartered Fusang Group on Tuesday announced its partnership with two companies – Point95 Global and Proxicoin – to boost its security token offering.
Per the strategic partnership, Point95 will offer market-making services to securities listed on Fusang Exchange along with other services.
Though Fusang announced it now, the deal with Proxicoin was already signed earlier this year for its listing as one of the first tokens on the exchange, Finance Magnates reported.
“We’re very excited to take this first step and look forward to working with PCN Media and Point95 Global. They share a common vision with Fusang: a belief that the financial system we know today can be transformed into a streamlined, efficient blockchain-based ecosystem that is truly borderless – in a secure, compliant, and convenient way,” Henry Chong, chief executive of Fusang, said.
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Capturing the Asian securities token market
In March, Fusang launched its tokenized securities platform. The company acquired a license from Malaysian regulators to become the first such platform in the Asian market.
Currently, Fusang Exchange is in talks with various service providers to streamline its platform’s infrastructure before its launch later this year.
“Our ambition for the industry cannot be realized by any one company alone,” Chong added. “Through the partnerships we’ve announced today, which we expect to be the first of many, we are building a strong foundation for our vision of what the digital asset world can offer.”
The company also launched a crypto custodian service and is targeting its services to the institutional investors spread across Asia.
“The crypto asset market holds infinite potential, but institutional investors will only have the confidence to partake if they can see how it can be regulated,” Jingyuan Ye, chairman of Point95 Global, said. “While digital exchanges around the world have been struggling with navigating the regulatory nature of exchanges, we believe that Fusang has been able to take a different approach by putting compliance and regulation first.”