Caceis, Credit Agricole’s asset service arm, has acquired a minority participation in French Fintech Kriptown French to support the launch of LISE, a blockchain -based exchange aimed at SMEs and medium capitalization companies.
Lise, abbreviation for Lightning Stock Exchange, is established in the first tokenized exchange of Europe focused on optimizing capital financing and public lists for smaller companies, Caceis said in a press release on Monday.
LISE is currently waiting for regulatory approval as a DLT trade and settlement settlement system (DLT TSS) under the European pilot regime. If approved, it would allow companies to issue, trade and resolve financial instruments directly in a distributed major book, reducing the time and costs associated with the traditional OPI processes.
Lise would allow investors to exchange shares in a secondary market that operates throughout the day, without the bottlenecks of the standard compensation houses, or the long coordination of multiple intermediaries.
The movement is aligned with the broadest thrust of Caceis in digital assets, which saw him receive the approval of Mica earlier this year.
Founded in 2018, Kriptown develops infrastructure to tokenize financial instruments, integrating market operations and after trade. The first IPO of LISE is planned by 2025, depending on receiving the necessary approvals.
