Fusang Exchange — a fully licensed securities exchange with an emphasis on digital assets — has been granted permission to operate businesses from the Labuan International Business and Financial Centre (IBFC), a special economic zone established in 1990, under the Malaysian government on the island of Labuan off the coast of Borneo.
According to Mondaq, the company revealed that it will initiate its services within 2019, providing a platform where clients can list digital securities, alternative assets and secondary-market trading of security tokens, as well as cryptocurrencies.
Fusang, with its roots as a family business, is now expanding into the financial technology area by drawing on its experiences.
“We have 35 years’ experience in servicing traditional assets, and leverage off that experience in understanding how to build infrastructure for digital assets […] Blockchain-based digital assets function by securing access to assets through their associated private keys. That is why, in addition to the Fusang Exchange, we have built the Fusang Vault as a custodial and asset servicing platform to enable institutional investors to access the digital asset economy in a way that is secure, convenient, and compliant,” disclosed a company representative.
The firm added that in the foreseeable future, all assets will be digital.
“Everything in the world is becoming digitized, and finance will be no exception. We are living in the Asian Century. The engine of world growth is shifting East. We at Fusang look forward to enabling the growing digital asset economy as we help build the future of finance,” the representative concluded.
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