France’s Lightning Stock Exchange, known as Lise, is preparing to host what could become Europe’s first fully on-chain stock market debut, a step that incorporates tokenization into the initial public offering (IPO) process.
The Paris-based exchange, approved last year under the EU’s distributed ledger technology (DLT) pilot regime, plans to list French aerospace provider ST Group on April 9, according to a press release on Thursday.
ST Group manufactures composite parts used in aircraft, defense systems and space programs. The company says it has around €59 million ($68 million) in potential program revenue over the next decade and aims to scale production as demand increases in aerospace and military supply chains.
Tokenization has gained traction among large financial companies that use blockchain rails to settle transactions and track ownership of assets such as bonds, funds, and stocks. Proponents say tokenization could improve capital markets with cheaper, faster settlements and more efficient operations. Wall Street giants like Nasdaq and the New York Stock Exchange also have plans to trade tokenized securities on their platforms.
Lise takes that concept even further by moving the IPO process on-chain. The exchange focuses on small and medium-sized businesses that would face high costs and long timelines when raising capital through traditional markets. It is backed by French lenders such as BNP Paribas, CACEIS (a subsidiary of the Crédit Agricole group) and Bpifrance.
ST Group’s debut, if successful, could offer smaller companies a cheaper and faster path to public markets within European rules.
Read more: EU risks falling behind US on tokenization rules, digital asset firms warn
