Barbados Stock Exchange (BSE) is going to start listing regulated Security Token Offerings (STOs) on its platform for trading soon.
Barbados Stock Exchange (BSE) Partners With Blockstation
The stock exchange made it known that it will be cooperating with a Canada based fintech company, Blockstation toward the design and implementation of the trading solutions for STOs and crypto assets.
Managing director of BSE Marlon Yardes, stated that: “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 has also completed a 60-day digital currency trading pilot with the Jamaican Stock Exchange, and it will be using this experience to provide BSE with an end-to-end solution.
Main features of the STO Platform
*.Clearing and settlement of digital assets
*.Surveillance tools for regulatory oversight
According to Yarde “Blockstation will also assist in training and onboarding of users on the platform, followed by the launch of a live pilot.”
Marko M. Hafez, co-founder and president of Blockstation also said that:
“Not only will we power BSE’s listings and trading volumes, but our turn-key solution will also facilitate access to new revenue streams for the exchange.”
This is not the first time the exchange will be making known its plans to cable into the security market. Last year, Yarde expressed plans to make the stock exchange a designated offshore security market with the US Securities and Exchange Commission. Yarde also expressed plans to expand into other regions such as Canada and Hong Kong.
“In the UK, for example, we are in the process of filing applications to obtain recognized stock exchange status under section 1005 of the Income Tax Act in the UK.” Yarde stated “We believe that Barbados’ double taxation agreement with China was strategically negotiated and therefore serves as a gateway for local and international companies to tap into the abundant capital present in South East Asia.” he continued