Hello everyone,
We wanted to introduce you to some of the projects we are building on the Internet Computer Protocol. We are currently working on projects regulated by the Egyptian Financial Regulatory Authority focusing on Real World Assets, Funds on Chain and allowing traditional investments to be accessible on chain in a regulated manner.
MercX is one of our leading projects, it aims to allow direct issuance, management and sale of securities, funds, debt instruments on chain as well as integrate existing assets through locking them and allowing them to be traded. This includes the EGX30 index tracking the 30 most liquid companies in Egypt. The project is built on ICP using ICRC standards. The problem we are solving relates to investment access (allowing small savers in rural areas to participate), really long settlement time(allowing for much better capital efficiency) and increased trading hours.
MercX will also be integrated with one of our ecosystem startups tradesuite allowing its SMEs access to finance through their ownership documents.
What is MercX?
MercX is a decentralized platform that focuses on tokenizing a variety of financial instruments and real world assets, offering a robust solution for managing and trading tokenized assets on the Internet Computer blockchain. It leverages the native features of ICP to provide a secure, transparent, and efficient environment for asset tokenization.
Features of MercX
Real-Time Settlement : We’ve reduced settlement times from the typical 24-72 hours to instant transactions, promoting capital efficiency and enabling continuous trading.
Enhanced Accessibility: MercX supports fractional ownership, democratizing investment opportunities by allowing smaller investors to participate in markets traditionally dominated by larger entities. This process enhances liquidity as these tokens can be traded on a global scale.
Reduced Costs and Increased Efficiency : By automating many aspects of the asset management process through smart contracts, MercX significantly reduces administrative costs and increases operational efficiency. This automation includes everything from issuance to compliance checks, trading, and settlements.
Pioneering Blockchain Innovation in Egypt : MercX stands at the forefront of blockchain technology in Egypt, being one of the first platforms to leverage the potential of the Internet Computer Protocol (ICP). This pioneering use of ICP sets MercX apart, establishing it as a leader in the regional blockchain landscape and paving the way for future innovations in Egypt’s digital asset management.
Development of MercX
MercX represents a significant leap forward in the fusion of traditional asset management with cutting-edge blockchain technology. It is structured in phases to ensure thorough development and robust testing. Phase 1 is completed and currently undergoing extensive testing, with plans to launch on the mainnet soon. As we continue to develop and refine this platform, we invite the community to join us in shaping the future of asset tokenization.
Upcoming Discussion
In future posts, we will give you more details about phase 1 and will delve into the challenges we faced during development and the technical solutions we implemented.
We look forward to your thoughts, feedback, and questions. Let’s discuss how we can together leverage the power of ICP to unlock the value of real-world assets for a broader audience.
Thank you for Reading!