The post France approves LISE for SME token trading appeared on BitcoinEthereumNews.com.

Tokenized stock exchange LISE received formal approval from France’s regulator on October 13, 2025, clearing the way for an EU-sanctioned experiment in on‑chain equity trading and settlement. LISE platform operating rules and EU pilot regime tokenization The AMF signed off on LISE SA’s detailed operating rules and rulebook, authorising the venue to test a distributed‑ledger-based market under the EU Pilot Regime. The AMF statement confirms the approval process and the scope of supervisory oversight. LISE’s documentation blends conventional exchange practice with DLT specifics. Key points cover participant eligibility, order matching, settlement logic and disclosure rules. In addition, the rules impose entry conditions and technical safeguards to limit operational risk. Who can list: SME listings tokenized stocks and the total tokenized securities cap LISE targets French joint‑stock companies and limited partnerships with market capitalisations below €500 million, and it requires that at least half of issuers be SMEs with valuations under €200 million. That focus aims to stimulate funding routes for smaller firms through tokenisation. Crucially, the Pilot framework sets a total tokenized securities cap of €6 billion for admitted instruments. The cap is designed to limit systemic exposure while authorities observe market behaviour during the experimental window. Trading model: tokenized shares retail trading, real time settlement blockchain and digital wallet share ownership LISE compresses trading and settlement on a single ledger. As a result, trades can settle on‑chain in near‑real time rather than following traditional T+2 cycles. This design reduces counterparty and settlement risk and speeds final transfer of ownership. Retail access is central to the experiment: pending final banking authorisation, LISE plans to enable tokenized shares retail trading via regulated digital wallets, with an intended roll‑out in early 2026. Retail users must pass a blockchain knowledge test before they gain direct trading rights. Meanwhile, issuers and intermediaries must align…

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Filed under: News - @ October 14, 2025 10:29 am