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FUSANG EXCHANGE RECOGNISED BY THE BRITISH VIRGIN ISLANDS FINANCIAL SERVICES COMMISSION (BVI FSC)
  • POST ON 15 Feb 2022

Feb 15, 2022 — Fusang, a fully regulated end-to-end digital securities exchange in Asia has been admitted to the list of recognised exchanges by the British Virgin Islands Financial Service Commission (BVI FSC).

Fusang will join other leading global exchanges such as the London Stock Exchange, the New York Stock Exchange, and the Tokyo Stock Exchange.

The CEO of Fusang, Henry Chong said, “The addition of Fusang as a recognised exchange in the BVI is a step towards our vision of democratising the way global investors access digital securities. For the first time, BVI registered companies can now benefit from tokenising the shares in their companies and listing digitally on a fully regulated and supervised exchange.” 

As a BVI recognised exchange, companies listed on Fusang will benefit from a pre-screening process vis-a-vis anti-money laundering and counter terrorism provisions, which will lead to a reduced time to market due to “safe harbour” clauses which are accorded by the BVI FSC’s recognition.

To further ease the listing process, Fusang Exchange offers potential issuers end-to-end digital asset tokenisation and listing services, be it for its main board or private markets, from the point of company incorporation to the management of register of shareholders. 

In fact, Fusang Exchange recently announced its own initial public offering (IPO) on its main board and expects that the admission to the recognised list of exchanges in the BVI will be a game changer for BVI registered companies in Asia, especially as the acceptability of digital asset classes is seeing unprecedented growth in the region.

“We believe this recognition will provide for a much-needed bridge for Asian companies looking to tap into benefits of digitalisation, and the pool of liquidity available globally for digital assets via the BVI’s long established capital markets industry,” said Elise Donovan, CEO of BVI Finance. 

Donovan added that thousands of BVI registered companies with an Asian heritage will benefit from this opportunity, as it provides for a digital alternative for their capital expansion plans. 

Additionally, Chong referred to the BVI FSC as a forward thinking and facilitative Regulator, that has always been open to innovation, evidenced by its continuous ability to pivot to meet the needs of the marketplace in light with global digital advancements. 

The BVI is the world’s largest offshore jurisdiction, with close to 400,000 companies registered in the domicile. The BVI FSC recently announced its intention to introduce legislation surrounding digital asset providers, which aims to provide a facilitative framework for the digitalisation of businesses registered in the BVI. 

The addition of Fusang to the list of recognised exchanges is a positive step towards ensuring the BVI provides an end-to-end digital ecosystem for companies registered in the jurisdiction. 

“Fusang’s aim of democratising investments by tokenizing a wide range of asset classes depends on facilitative Regulators like the BVI FSC, who are willing to embrace digital transformation. Fusang intends to work closely with BVI related intermediaries and advisers towards offering benefits of digitalisation to all BVI registered companies,” Chong noted.

 

For further information please contact:

Adrianna Soverall
asoverall@bvifinance.vg
Mobile: 284-852-1957
 

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