PANews reported on October 16th that, according to CoinDesk, Paris-based stock exchange Lise announced Thursday that it has become Europe's first company authorized to operate a fully tokenized stock exchange. Targeting the French SME IPO market, the exchange has obtained a Distributed Ledger Technology Trading System (DLT TSS) license from the French financial regulator, the Autorité de Surveillance et des Marchés (ACPR), under the EU's distributed ledger technology pilot regulation. This authorization, developed with the participation of the Bank of France, the European Securities and Markets Authority (ESMA), the Autorité des Marchés Financiers (AMF), and the European Central Bank, allows Lise to serve as both a multilateral trading facility (MTF) and a central securities depository (CSD) within a single digital framework. The exchange targets French companies with a market capitalization of less than €500 million and aims for at least half of its issuers to be SMEs with valuations below €200 million. Lise plans to launch its first IPOs for SMEs and mid-cap stocks in early 2026, focusing on sectors such as energy and infrastructure.PANews reported on October 16th that, according to CoinDesk, Paris-based stock exchange Lise announced Thursday that it has become Europe's first company authorized to operate a fully tokenized stock exchange. Targeting the French SME IPO market, the exchange has obtained a Distributed Ledger Technology Trading System (DLT TSS) license from the French financial regulator, the Autorité de Surveillance et des Marchés (ACPR), under the EU's distributed ledger technology pilot regulation. This authorization, developed with the participation of the Bank of France, the European Securities and Markets Authority (ESMA), the Autorité des Marchés Financiers (AMF), and the European Central Bank, allows Lise to serve as both a multilateral trading facility (MTF) and a central securities depository (CSD) within a single digital framework. The exchange targets French companies with a market capitalization of less than €500 million and aims for at least half of its issuers to be SMEs with valuations below €200 million. Lise plans to launch its first IPOs for SMEs and mid-cap stocks in early 2026, focusing on sectors such as energy and infrastructure.