The Eastern Caribbean Securities Exchange Ltd (ECSE) is pleased to announce the signing of a Master Agreement with Canadian FinTech Blockstation to launch a new blockchain-driven tokenized securities market.
The ECSE, a regional exchange representing eight Caribbean national economies, will leverage the Blockstation Ecosystem to attract a new class of issuer that is technology savvy and eager to tokenize their securities and raise capital on the open market. A Tokenized IPO can reduce time and cost when compared to traditional workflows, driving efficiencies for all parties and positioning the ECSE as an innovation leader among regulated stock exchanges.
“By embracing tokenization of securities on the Blockchain, we send a strong signal to issuers and investors everywhere that we are ready for the next evolution in capital markets,” says Trevor Blake, ECSE’s Managing Director. “Our partnership with Blockstation will ensure our ability to provide a safe, secure, and highly efficient on-ramp for issuers to conduct Tokenized IPOs, raise capital, and attract the investors they need to grow and thrive.”
This Master Agreement follows a successful pilot of the Blockstation platform which involved the ECSE, the Eastern Caribbean Central Securities Depository Ltd, First Citizens Investment Services Ltd, the Bank of St. Lucia Ltd, and the Grenada Co-operative Bank Ltd in 2021. The pilot confirmed the suitability of Blockstation to provide end-to-end functionality for all stakeholders to list, trade, clear and settle tokenized securities as well as manage the compliant onboarding of issuers and investors in a regulated environment.
“We’re excited to partner with the ECSE in creating a new securities marketplace built around Blockchain, tokenization and smart contract technology,” says Marko M. Hafez, Co-Founder and CEO of Blockstation. “The tokenized securities market is rapidly increasing in value around the globe and a holistic, blockchain-driven solution is exactly what regulated exchanges need to modernize, attract issuers, support Tokenized IPOs, and remain competitive in today’s digital marketplace.”
The Eastern Caribbean Securities Exchange Ltd (ECSE) is a fully electronic regional exchange that was promoted by the Eastern Caribbean Central Bank (ECCB), as a part of a programme to develop money and capital markets in the Eastern Caribbean Currency Union (ECCU). The ECSE, was launched in October 2001, along with two subsidiaries, the Eastern Caribbean Central Securities Registry Ltd (ECCSR) and the Eastern Caribbean Central Securities Depository Ltd (ECCSD), to provide the infrastructure for the trading, clearing and settlement, and registration and transfer of financial assets on the Eastern Caribbean Securities market (ECSM) and, subsequently, the Regional Government Securities Market (RGSM). The ECCSR was subsequently wound up, as a part of a Group rationalization exercise, and its activities subsumed into the ECCSD. Consistent with industry norms, the ECCSD then became a full service CSD providing a full range of post trade services.
Blockstation is a holistic, blockchain-driven platform for the entire lifecycle of listing, trading, clearing and settlement of tokenized securities and digital assets within the regulated capital marketplace. As an ecosystem solution, Blockstation serves international stock exchanges and their network of broker-dealer, regulator and depository partners with turn-key, end-to-end functionality to incorporate tokenized assets into their book of business, empowering them to attract new issuers, increase trading revenue, and satisfy market demand.
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