The only licensed securities house in Seychelles announced that it is using tokens to list sports cars.
The Republic of Seychelles is a group of islands located in the Indian Ocean that are making advances in the world of cryptocurrencies. According to the information provided, they are currently using tokens to list luxury sports cars.
Those with a value of 200 million dollars or more are assigned a token. This so that retail and institutional investors can invest in them.
Seychelles cryptographic platform, MERJ said it was partnering with CurioInvest, a tokenization platform based on Ethereum. The objective of this alliance is to create tokens that represent actions in luxury cars, such as Ferrari.
Although the sale of these shares is open to retailers and other investors, they are expected to be the last to drive sales. Especially, those who come from regions with restrictions on car imports, such as China.
In fact, a Ferrari F12tdf valued at $ 1.1 million will be the first car on the exchange list. For its part, MERJ said it could include up to 500 vehicles.
Seychelles goes one step further to the crypto path
This MERJ initiative is helping Seychelles to move more towards the path of cryptography and innovation. Especially because the platform claims to be one of the first in the nation that lists its own symbolic capital using the Ethereum Blockchain.
In addition, he explained that investors will have direct access to the exchange through a computer or mobile application. On the other hand, its institutional clients can obtain access through traditional intermediary channels.
For his part, Jim Needham, head of digital strategy at MERJ Exchange, said in a statement that:
“With the association, we are creating an access point for these investors that meets the entire cycle of exchange, compensation, liquidation and registration.”
The Seychelles company also clarified that token listings would allow more people to invest in unusual cars. Turning a luxury asset class into something more accessible.
And not only that, but it encourages all those who have an interest in acquiring a luxury car to use these cryptographic tokens. Therefore, it promotes the use of these assets in general.
For now, the country only has an accredited digital currency platform. It is expected that, if this plan is successful, soon these will be many more.
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