France’s new tokenized stock exchange wants to reinvent IPOs

Targeting the first tokenized IPO launch in the first quarter of 2026, France’s Lightning Stock Exchange aims to become a fully tokenized equity exchange in Europe.

Lightning Stock Exchange (Lise), a new stock exchange headquartered in France, is entering the market with bold ambitions to launch a fully tokenized equity exchange dedicated to small and medium-sized enterprises (SMEs).

France’s Prudential Supervision and Resolution Authority (ACPR) has issued Lise a DLT trading and settlement (TSS) license, paving the way for its tokenized equity exchange in Europe, the company announced on Thursday.

“This approval authorizes us to operate the first tokenized stock exchange dedicated to equities in Europe,” Lise managing director Mark Kepeneghian said in a statement on LinkedIn.

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