M2Bio Sciences, a South African biotechnology company, has acquired JDAX (Johannesburg Digital Assets Exchange), a crypto exchange that specializes in tokenized securities. The acquisition was completed on September 21, 2023 and terms were not disclosed.
Tokenized securities are digital tokens that represent ownership of real-world assets, such as stocks, bonds, and commodities. By acquiring JDAX, M2Bio will offer investors a new way to support the development of biotechnology products and therapies. By using JDAX’s blockchain technology, M2Bio offers a way for research projects to be crowd-funded and tokenized. This allows for decentralized ownership and the potential issuance of Non-Fungible Tokens (NFTs) using the crystal structure of a molecule and representing fractional ownership rights over these discovered molecules.
The acquisition demonstrates the interest from both investors and companies in using cryptocurrencies and blockchain technology to fund and develop new products and services. The acquisition could also pave the way for other biotechnology startups to tokenize their assets and raise capital through crypto exchanges.