CACEIS, the Santander and Crédit Agricole joint-owned asset services business, has taken a major step into blockchain finance as it picked up a minority stake in French fintech firm Kriptown.
The investment will be used to build Lise (Lightning Stock Exchange), a blockchain-based equity exchange aimed at small and medium-sized enterprises (SMEs) across Europe.
Since its founding in 2017 by France’s AMF, Kriptown has been increasingly establishing itself in digital asset markets.
With this latest funding by CACEIS, along with existing shareholders Bnp Paribas and Bpifrance, Kriptown is ideally positioned to connect blockchain innovation with mainstream finance through Lise.
Lise Aims at Capital Markets for SMEs to Digitalize using DLT
Lise is being constructed as a new-generation market infrastructure on distributed ledger technology (DLT) to revolutionize the manner in which SMEs raise capital and trade in equity.
The platform aims to digitize every phase of the capital markets lifecycle, from IPO issuance and trading all the way through settlement and custody, on the blockchain.
The model eliminates traditional intermediaries, both in terms of time and cost of equity financing.
Lise is particularly targeting mid-European companies in the energy, defense, infrastructure, and industry segments, whose access to funding is usually constrained.
The exchange will use the European Union’s DLT Pilot Regime, a regulatory sandbox that is intended to test blockchain’s capabilities in real-world financial environments.
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Europe’s First Blockchain IPO Priced for 2025
Pending regulatory approval, Lise could be the first authorized DLT Trading and Settlement System (DLT TSS) in Europe for tokenized equities.
Its first IPO on the platform is already scheduled for 2025, demonstrating both business progress and market interest.
Among the highlights of Lise will be a 24/7 secondary market for SME shares, offering companies and investors unprecedented liquidity.
The recent move cuts through other traditional exchanges like Euronext, which are less open to smaller companies.
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Strategic Investment by CACEIS Enhances Governance and Scaling Capacity
The investment by CACEIS as a strategic investor significantly enhances the governance framework of Kriptown and brings huge institutional credibility to the Lise project.
CACEIS, which had assets under custody of €5.3 trillion and under administration of €3.4 trillion as of December 2024, has been equally establishing its digital asset footprint under the EU’s new Markets in Crypto-Assets (MiCA) regime.
The recent investment will provide the operational infrastructure, compliance expertise, and global presence to grow Lise across Europe.
Note that for CACEIS, the investment is part of its wider digital assets strategy, further reinforcing its focus on innovation in financial services.
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Broader European Crypto Ecosystem Shows Rapid Growth Under MiCA
Lise’s creation is one of a broader tide of blockchain and crypto-related advancements in Europe under the MiCA regulatory framework.
Notably, on July 2nd, Bybit and OKX were reported to have opened fully regulated European crypto exchanges Bybit.eu and OKX France, offering multilingual platforms, extensive liquidity, and complete MiCA compliance.
A week ahead on July 14th, OKX rolled out PayPal-based purchase of crypto for users in the European Economic Area, initiating a zero-fee promotion to drive adoption.
The various launch reports in Europe testify to growing trust from regulators and increased user appetite for regulated digital asset platforms, making Europe a true center for crypto infrastructure and financial innovation.
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