CANADA / BARBADOS – The Barbados Stock Exchange (BSE) announced the signing of a master agreement with Blockstation, a leading Canadian FinTech, to launch a new blockchain-driven tokenized securities marketplace.
By adopting the Blockstation Digital Asset Platform, the BSE will satisfy growing demand for a secure, regulated means of listing tokenized securities and attract exciting new issuers who are eager to raise capital and go public. Tokenized IPOs can reduce time and cost when compared to traditional workflows, providing efficiencies for all parties and making the securities marketplace more accessible for all participants.
“The Digital Asset Platform will be integrated as part of our International Securities Market (ISM)” says Marlon Yarde, managing director of the BSE. “With Blockstation as our technology partner, the BSE is now uniquely positioned to provide issuers with an efficient, dynamic yet secure market ecosystem through the Digital Asset Platform. Not only will this allow them to tokenize equity, raise capital, and/or conduct cost-effective IPOs – the technology infrastructure will also enable them to reach the deepest possible pool of investors.”
This master agreement follows a successful pilot of the Blockstation platform which involved the BSE, the Barbados Central Securities Depository and First Citizens Investment Services in 2021. The pilot proved the system’s suitability to support end-to-end workflow for all stakeholders in full compliance with market integrity, KYC/AML, and other regulatory requirements.
“Stock exchanges around the world are seeking to integrate blockchain technology, and we congratulate the BSE on being among the first to formally adopt a platform to do so,” says Marko M. Hafez, co-founder and chief executive officer of Blockstation.
“As a technology company, we are committed to making it as efficient and seamless as possible for regulated stock exchanges to create a blockchain-driven capital markets ecosystem, removing friction and driving efficiencies for all stakeholders in the public investment lifecycle.”