The Barbados Stock Exchange has recently announced that they have signed a Memorandum of Understanding (MoU) with Toronto based Blockstation. This agreement will see Blockstation provide the exchange with the tools and capabilities to support digital securities.
Through the integration of Blockstation services into their longstanding secondary market platform, the BSE soon plans to offer its clients exposure to digital securities.
If this development sounds familiar, that would be because it is. Only weeks ago, we reported on a similar partnership announced between Blockstation and the Jamaica Stock Exchange. Much like the development discussed here today, the partnership formed with the JSE took place in the form of a MoU. This MoU was signed after the successful completion of a 60-day trial, seeing the exchange utilize services offered by Blockstation.
As Blockstation continues to onboard clients, they will only become more attractive to the next potential partner.
Along with news of this development, representatives from each company issued statements. Here is what each had to say regarding the partnership.
“Blockstation is thrilled to be working with the BSE to help diversify and grow their business by enabling the listing, trading and settlement of security tokens…Not only will we power BSE’s listings and trading volumes, our turn-key solution will facilitate access to new revenue streams for the exchange.”
“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.”
The BSE represents one of the largest companies of its kind within the small Caribbean nation. They began their rise to this level upon formation, in 1987.
Under the watch of Managing Director, Marlon Yarde, the BSE provides its clients with access to a variety of assets through secondary market trading.
Blockstation is a Canadian company which maintains headquarters in Toronto, Ontario. The company has been in operation since 2014. Since their creation, Blockstation has successfully created a suite of blockchain-based products, focused on facilitating the rise of digital securities.
This development is overseen by company CEO, Marko Hafez.
While the Caribbean has demonstrated a growing interest in digital securities, they are by no means the only region in the world to have done so. Below are a few articles detailing developments from companies originating in various parts of the globe.