“The Paris-based exchange has secured a distributed ledger technology license from the French regulator ACPR.”, — write: www.coindesk.com
The exchange, which targets the SME IPO market in France, received a DLT TSS license from France’s financial regulator, the ACPR, under the EU’s Distributed Ledger Technology Pilot Regime, according to a press release.
The authorization, developed with input from the Banque de France, ESMA, AMF, and the European Central Bank, allows Lise to combine the roles of a Multilateral Trading Facility (MTF) and a Central Securities Depository (CSD) within one digital framework.
Lise counts among its shareholders CACEIS (a subsidiary of the Crédit Agricole Group), BNP Paribas, and Bpifrance. The tokenization-friendly exchange targets French firms with market capitalizations below €500 million ($582m), and seeks at least half of the issuers to be SMEs with valuations below €200 million.
“This license allows us to operate the first fully tokenized equity exchange in Europe, offering a direct response to real-world financing challenges,” said Mark Kepeneghian, Lise’s CEO.
Lise plans to list its first SME and midcap IPOs in early 2026, focusing on sectors such as energy, infrastructure, and defense.
For investors, the model could make exposure to Europe’s smaller growth firms easier and more transparent. For policymakers, it represents a test case in using blockchain technology to simplify and modernize capital markets.
Combined spot and derivatives volumes fell 17.5% in September, continuing a four-year seasonal trend
- Trading activity falls 17.5% in September slowdown: Combined spot and derivatives volumes dropped to $8.12 trillion, marking the first decline after three months of growth. September has now seen reduced trading volume for the fourth consecutive year.
- Open interest reaches record high despite derivatives market share decline: Total open interest surged 3.2% to $204 billion and peaked at an all-time high of $230 billion during the month.
- Altcoins on CME outperform as Bitcoin and Ether futures decline: While CME’s total derivatives volume remained flat at $287 billion (-0.08%), SOL futures jumped 57.1% to $13.5 billion and XRP futures rose 7.19% to $7.84 billion. BTC and ETH futures fell 4.05% and 17.9% respectively.
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The World Liberty Financial co-founder said in a CoinDesk TV interview that he is currently working on tokenizing a real estate project tied to a building under development.
- Eric Trump confirmed plans to tokenize a new real estate project in an interview with CoinDesk TV coming next week.
- The initiative would involve World Liberty Financial and its stablecoin USD1, Trump said.
- Tokenization could allow public micro-investments and perks tied to property ownership, while raising funds without banks, he said.
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