CEO and chairman of the board in Black Rock New York fotogtaphed by Black Rock Inc.
Larry Fink, CEO of BlackRock, recently stated that “the tokenization of financial assets will mark the beginning of a new era for financial markets” (Cryptoast, October 2025), the American asset management giant — with over USD 13 trillion in assets under management — is multiplying its initiatives to integrate tokenization into its financial products (CoinDesk, October 14, 2025). BlackRock sees this as a true structural transformation, making markets more efficient, transparent, and accessible.
This is precisely the vision that the French project Lise (Lightning Stock Exchange) is bringing to life by launching the first natively tokenized stock exchange in Europe.
With authorization granted by the ACPR on October 16, in coordination with the Banque de France, the AMF, ESMA, the Eurosystem, and the ECB, under the European DLT Pilot Regime, Lise – Lightning Stock Exchange becomes:
- the first stock exchange created in France in nearly 100 years,
- the first stock exchange to operate 24/7,
- and the first European infrastructure to offer, on blockchain, full integration of market (MTF) and post-trade (CSD) functions.
A true next-generation exchange — one that operates and manages its own mechanisms.
“Larry Fink’s recent statements in major media are further signals that the tokenization movement is gaining global momentum. France, already ahead in this field, continues to push forward. With Lise, we are going even further: we are building a truly tokenized infrastructure and providing a concrete response to the challenges raised by the European Union, particularly regarding the connection between savings and the real economy ” declares Mark Kepeneghian, CEO of Lise.
Backed by renowned investors such as CACEIS (Crédit Agricole Group), BNP Paribas, and Bpifrance, Lise embodies a new generation of market infrastructures serving European SMEs and mid-sized companies.
Its model enables instant settlement, continuous trading, and real-time, open access for all participants.
The first IPOs on this platform are scheduled for early 2026. You can find more details in the attached press release.
Mark Kepeneghian is available for interview requests and can provide further insights on:
- The launch of the new Lise platform,
- The European vision of tokenization and its impact on capital markets,
- The role of Lise in modernizing the financing of SMEs and mid-sized enterprises.
About Lise
Lise-Lightning Stock Exchange is a new generation of market infrastructure for SMEs and mid-cap companies. Lise is the first French market infrastructure to combine, within a single platform, the roles of both a Multilateral Trading Facility (MTF) and a Central Securities Depository (CSD) in a unified framework, leveraging the European DLT Pilot Regime and tokenization of financial instruments. Lise facilitates the issuance, trading, and instant settlement of listed securities while drastically reducing the costs and operational complexities of IPOs. Its mission is to make capital markets more accessible to companies in key sectors such as energy, industry, infrastructure, and defence, while offering investors a continuous secondary market available 24/7. Lise counts among its shareholders CACEIS (a subsidiary of the Crédit Agricole Group), BNP Paribas, and Bpifrance. In October 2025, Lise obtained its investment firm license from the ACPR to operate as a SNR-DLT, and plans to carry out its first IPO as early as 2026.
Lise SA (LEI code: 894500LNKGRT1I5QBU56) is authorized by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) as an investment firm under registration number CIB 18883.
Investing in equities involves risks, including the potential loss of capital. More information : www.lise.com
CONTACTS PRESSE
Alexis Peneau | Tél : +33 (0)6 29 99 66 48 | alexis@edifice-communication.com
Laetitia Guittard | Tél : +33 (0)6 76 13 71 55 | laetitia@edifice-communication.com
