Barbados Stock Exchange (BSE) Signs MoU With Blockstation For Security Token Offering Listings
Barbados Stock Exchange (BSE) Signs MoU With Blockstation To Help Provide Its Clients With Security Token Listings
Via a circular released earlier today, the Barbados Stock Exchange (BSE) formally announced its partnership with Blockstation that will allow customers to trade security tokens on its native exchange platform. As a result of this latest MoU, the BSE has now joined the ranks of many other stock exchanges that have shown a growing interest in digital assets.
In regards to the matter, it is also worth noting that after evaluating the offers put forth by a host of different tech-companies, the BSE finally decided to team up with Blockstation in order to deliver its clientele with options such as:
- Niche’ custody solutions
- Listing options
- Clearing & settlement
- Surveillance tools for regulatory oversight.
In wake of this aforementioned deal, Marlon Yarde, Managing Director for the Barbados Stock Exchange, recently released the following message:
“We are pleased to sign this agreement with Blockstation to accelerate our go-to-market strategy for security token offerings. We want to provide access to capital and liquidity for both local and international businesses through our International Securities Market (ISM). Blockstation’s built-in compliance tools were absolutely pivotal in securing the support of our regulator. We believe that a partnership with Blockstation, and their technology solution, will strategically position us to grow our digital asset business going forward.”
To elaborate on the specifics of the above-stated agreement, we can see that the MoU will also pave the way for Blockstation’s Onboarding Team to “conduct training and onboarding of users”. All of this will be followed by the official release of a ‘live pilot’ of the system.
Similarly, Blockstation co-founder and President Marko Hafez also noted that his firm was looking to help the BSE by allowing it to “diversify and grow its business” — primarily through the enablement of unique options such as “listing, trading and settlement of security tokens.” Lastly, he also stated that Blockstation's turn-key solutions will allow the BSE to procure new revenue streams for itself.
About BSE And Blockstation
Barbados Stock Exchange (formerly known as the Securities Exchange of Barbados) came into being following the passage of the country’s Securities Act [2001-13]. It currently has regulatory authority over local capital markets as well as other subsidiary units such as the SRO.
Blockstation is a Canadian FinTech firm that came into existence back in 2014. As per the company's official website, it offers clients with “compliant listing, trading, clearing and settlement of digital assets and security tokens” protocols that can be used by broker-dealers, investors, issuers etc.