what's Lightning Stock Exchange (Lise)?

Lise is Europe's first fully tokenized stock exchange dedicated to small and medium-sized enterprises (SMEs) and mid-caps. Built on distributed ledger technology (DLT), it tokenizes equity shares as digital assets on a permissioned blockchain, enabling primary market IPOs and secondary market trading. Operating 24/7 with instant settlement, it functions as both a Multilateral Trading Facility (MTF) and Central Securities Depository (CSD), reducing costs and errors associated with traditional systems. Regulated under the EU's DLT Pilot Regime by France's ACPR and AMF, Lise supports strategic sectors like defense, energy, and healthcare. Key features include zero account fees, fully digital portfolio management, and partnerships for tokenized deposits (e.g., Memo Bank) and market data (e.g., Kaiko). As an offshoot of Kriptown, it aims to streamline SME financing and public listings on blockchain rails.

Lise hosts world's first on-chain IPO on April 9, 2026, with ST GROUP listing.