The listing of SPiCE VC tokens (SPICE) on Fusang Exchange indicates a trend of increased interest in, and adoption of, digital securities within Asia. Fusang Exchange CEO, Henry Chong, elaborated on this trend and the shift towards a ‘digital age within financial markets’.
“We’re particularly excited that our first listed digital asset is a lucrative offering for investors. The world is quickly edging into a revolution that will move the financial markets to the digital age, and we remain steadfast in our mission to provide the institutional infrastructure for the digital asset economy in Asia.”
News of the SPiCE VC asset listing was made possible by past licensure of Fusang Exchange. With operations in Malaysia, the Labuan Financial Services Authority (LFSA), approved Fusang Exchange’s application for a Securities Exchange licence.
This license was a necessary step, which allows for Fusang Exchange to legally offer and trade digital securities, as well as traditional cryptocurrencies and fiat.
SpiCE VC Global Presence
SPiCE VC was an early investor in London-based digital securities exchange and custodian Archax; it is expected that SPICE tokens will also be supported by Archax upon launch. While not yet formally announced, this would mean that SPiCE VC is on the cusp of seeing its tokens attain a global presence, with access through the following exchanges.
- OpenFinance Network (North America)
- Archax (United Kingdom)
- Fusang Exchange (Asia)
With SPICE tokens now being listed on a growing number of exchanges, the recent news of a SPiCE VC partnership with Coinbase Custody was quite timely. As more investors invest in digital securities, the need for a safe place to store and access these assets increases.
Competition among custodial services is growing. Coinbase Custody is arguably the most well-known, touting high levels of adoption. When support for SPICE tokens through Coinbase Custody was announced, SPiCE VC Managing Partner, Tal Elyashiv, had the following to say.
“We’re thrilled to work with Coinbase Custody to provide, safe, secure and regulated custody solutions so investors have a reliable service to not only store their SPICE tokens, but to deposit and withdraw them as well…Reliable custody solutions like those from Coinbase Custody are essential in achieving mainstream adoption within the digital security marketplace. Today’s announcement marks another major milestone in the evolution of this growing asset class.”
Founded in 2017, SPiCE VC manages a fund comprised of high-potential startups involved with blockchain technologies. Investors are able to gain exposure to this fund through the purchase, and trading, of digital securities, known as ‘SPICE’ tokens.
Managing Partner, Tal Elyashiv, currently oversees operations at SPiCE VC.
Founded in 2015, Fusang Exchange maintains operations in Hong Kong, Malaysia, and Singapore. Above all, Fusang Exchange works to serve Asian markets with a variety of solutions surrounding digital securities and blockchain based assets.
CEO, Henry Chong, currently oversees company operations.