Lise Secures First EU License for Fully Tokenized Stock Trading Platform
France’s Lightning Stock Exchange is set to debut the first tokenized IPO in early 2026, marking a significant step toward fully tokenized equity trading in Europe.
Summary
Lise, a Paris-based exchange, is on track to launch the first tokenized IPOs in early 2026. With a focus on small and medium-sized enterprises (SMEs), the platform will operate as a fully tokenized stock exchange in France, supported by major shareholders such as CACEIS, BNP Paribas, and Bpifrance.
Terms & Concepts
- DLT TSS License: A regulatory authorization allowing trading and settlement services using distributed ledger technology under the EU pilot regime.
- Tokenized Stock Trading: The process of representing shares as digital tokens on a blockchain, enabling faster settlement and broader accessibility.
- Multilateral Trading Facility (MTF): A platform that facilitates the exchange of financial instruments between multiple third-party buyers and sellers.