Last week during Cairo Blockchain Week, @MercaturaDevs led by @jumanaa @nourAhmed123 joined a panel at the opening day show casing the real world assets platform being built on ICP. MercX allows licensed service providers and the regulators to on board stocks, fixed income funds, insurance funds, SME shares
into MercX creating tradable financial instrument with immediate settlement through digital certificate deposits (a liquid fund that allows redemption from a number of banks). The platform has been in development over the last 18 months with swap feature-ledger on the main net to conduct tests https://zjbyw-4qaaa-aaaan-qzmtq-cai.icp0.io/ (do not buy any of test tokens). The platform benefited from guidance from ICP GCC hub last year.
The KYB for onboard and issuance of equivalent asset is done by the regulator and platform issues twin tokens. KYC within the platform is done by a licensed service provider by the regulator(although we are developing our own KYC).
The platform is scheduled for Sandbox pilot with a limited number of assets on 25th January 2025. The success of the pilot will pave the way for allowing a large number of assets to be traded 24/7 with immediate settlement and will allow those assets access to global markets inside the ecosystem and outside.
