Project Overview Updated:
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MOBU will obtain a 15% equity stake in an operational licensed stock exchange in South Africa. MOBU will be the sole broker for all security tokens. Other shareholders in this exchange include very prominent listed companies like Investec, Peresec and Lagae Securities also based in South Africa.
The stock exchange has a T+0 settlement solution and is in the process of applying for a bond exchange license. The stock exchange listing fees are half of the fees of the Johannes Stock Exchange (JSE) with very low listing requirements. Local as well as global listings are granted. The attainment of an equity stake in a stock exchange is a great break-through and achievement for MOBU and is perceived as a significant value-added benefit to the investor. The CEO of the exchange expects a turnover of 500m ZAR for 2019 alone. The MOBU team has many years of experience in both the finance and crypto industry. By working on and operating in a number of exchanges, MOBU successfully accumulated a large network of partners in this space. These partners will be key in bootstrapping the exchange, ensuring liquidity in the market.
Security is always paramount. This is the reason why MOBU will follow the industry best practices at all times, especially when is comes to securing infrastructure and data including ISO/IEC 27001:2013 and the Cryptocurrency Security Standard (CCSS). The MOBU security token exchange will be built to high standards, audited, and penetration tested. MOBU gained knowledge and experience in building financial systems to the highest security standards and is always striving to ensure security first.
The MOBU token powers both the issuance platform and the exchange. STO issuers using the MOB20 protocol will receive discount on listing fees on the exchange and investors paying in MOBU tokens will receive discount on trading fees.