Ulaanbaatar, Mongolia – December 27, 2023 – AND Systems LLC, a subsidiary of AND Global, marks a historic milestone with the launch of the world’s first blockchain-based Over-the-Counter (OTC) trading platform for regulated securities. This revolutionary system, developed in collaboration with the Mongolian Association of Securities Dealers (MASD) and Mongolian Central Securities Depository (MCSD), promises to reshape the landscape of Mongolia’s capital market with increased efficiency, transparency, and liquidity.
Developed by AND Systems, the platform has been a cornerstone in Mongolia’s financial landscape since September 2021. It has successfully facilitated the raising of over MNT 1.6 trillion through 137 corporate bonds from 90 companies. The transition of this platform to blockchain technology, approved by the Financial Regulatory Commission (FRC) of Mongolia for testing under the regulatory sandbox, is set to revolutionize the trading of regulated securities.
The OTC Blockchain Security trading platform, one of the first in the world to trade regulated securities on blockchain, is expected to become an exemplary case in financial market innovation. The introduction of blockchain technology in the platform will allow for 24/7 trading and instant settlements, enhancing liquidity in the secondary market for corporate bond trading and enabling investors to manage their cash more effectively.
The launch ceremony held on December 27, 2023, was joined by of AND Global CEO B.Khos-Erdene and AND Denode CEO D.Bilguun. The development team within AND Global in developing the OTC trading platform brings the expertise and experience of the talented AND Denode team, known for operating the crypto exchange denode.io – a registered Virtual Asset Service Provider (VASP) with the FRC.
This groundbreaking initiative positions Mongolia at the forefront of financial market innovation. The OTC Blockchain Security trading platform not only empowers domestic businesses but also sets a global precedent for integrating blockchain with regulated securities. By harnessing the transformative power of this technology, AND Systems is paving the way for a more efficient, inclusive, and future-proof financial ecosystem in Mongolia and beyond.