Grace Ashiru
MINDEX, a prominent fintech company, recently celebrated the launch of the first-ever virtual assets marketplace in Mauritius, a landmark event for the region’s financial sector. The Virtual Assets Marketplace license was awarded to MINDEX by the Financial Services Commission (FSC), enhancing its role in the digital finance arena.
This accomplishment builds on MINDEX’s earlier successes, having received approval for a digital securities exchange and clearing house from the FSC in February 2023 and the MINDEX Digital Custodian in January 2022. The latest license adds to MINDEX’s portfolio of digital financial services, including a digital securities exchange, a digital custodian, and a clearing house. This integration provides a robust platform for trading a variety of virtual assets, such as tokenized real-world assets, stablecoins, and cryptocurrencies.
Manisha Dookhony, who serves as MINDEX Limited’s Chairperson and advises various African governments, shared her positive outlook regarding recent developments. She highlighted that these advancements place Mauritius at the forefront as a regulated hub for virtual assets in Africa and globally. Dookhony underscored the significance of this move in establishing a distinct marketplace for virtual assets, which aligns with the objectives of the African Continental Free Trade Area (AfCFTA).
Christian Angseesing, the Chairman of MINDEX Digital Custodian Limited, commended the Financial Services Commission’s (FSC) forward-thinking stance, considering it an active support of innovation and technology. He emphasized Mauritius’ potential as a pivotal hub connecting investors across varied African economies, promoting economic cooperation.
MINDEX harnesses blockchain technology to provide institutional and retail investors with regulated market access. The company’s goal is to create a comprehensive digital ecosystem in Africa. This includes its digital custodian, an exchange, clearing and settlement facilities, and now, a marketplace for virtual assets. With its three-decade-long success as an International Financial Centre (IFC), Mauritius stands ready to maintain its competitive advantage by capitalizing on financial technology opportunities.
Jessica T. Naga, MINDEX’s CEO, stressed the significance of granting global investors unfettered access to essential data for evaluating investment options. She underscored MINDEX’s dedication to deploying blockchain technology to streamline trading and boost liquidity across Africa.
The Government’s determination to position Mauritius as a premier regulated FinTech hub for Africa is reflected in the Financial Services Commission’s (FSC) decision to grant necessary licenses to MINDEX. This action marks a pivotal move in capitalizing on local expertise and resources, propelling Mauritius to the forefront of the dynamic digital finance sector.
MINDEX seeks to establish a fully regulated digital asset ecosystem encompassing Mauritius, Africa, and other regions. Utilizing the power of blockchain technology, the organization strives to enhance financial services and offerings. This includes various services such as asset listings, automated transaction processing, collateral management, fund administration, asset management, and support for post-trade activities.
