For the first time in Malaysia, the Fusang Group is licensed by Labuan Financial Services.
This license permits the Fusang exchange to offer legally digital securities and do business.
In addition, Fusang will be able to deliver its customers Fiat currency and cryptocurrencies.
With this approval, it shows the steady trend seen in Asian markets,
the other what Fusang gets is the nature of their license.
For example, most exchange brokers/dealers hold the license. This allows these exchanges to trade securities which are only listed elsewhere.
By holding a full Securities Exchange License, the first time in Fusang has the ability to work as a gateway and to list digital securities.
It is expected that a full platform offering digital securities can be launched in the second half of 2019.
Fusang Exchange
The Fusang Exchange is the subsidiary of the Fusang Group. The company was established in 2015 with headquarter located in Hong Kong.
Since the launch, the company expanded with offices in Malaysia and Singapore. This expansion and the continued development of services
has been under the supervision of CEO Henry Chong.
Labuan Financial Securities Authority
Labuan FSA is a Malaysian regulatory body that works to implement various financial rules within the nation.
Their realm is the Financial Services and Securities Act – which only applies to the Fusang Exchange.
In other words
The approval of the Fusang Group shows the continued acceptance of digital securities in Asian markets.