Canadian firm Blockstation, today has announced that qualified issuers may now utilize its digital asset platform to conduct capital raises via tokenized IPO on the Jamaica Stock Exchange (JSE).
This news is the latest milestone in Blockstation’s partnership with the JSE, one of the first exchanges to offer end-to-end support for the compliant listing, trading, clearing, and settlement of digital assets such as security tokens.
“We are excited to officially launch the Prospectus+ Smart Listing Accelerator Portal for issuers to tokenize their equity and list on a regulated stock exchange. The portal features low costs, short timelines and international reach, making tokenized IPOs suitable for companies of all sizes and an attractive proposition for issuers who never would have considered going public in the past.”
– Marko M. Hafez, CEO, and Co-Founder of Blockstation
On the platform, issuers may create their prospectus and submit for review by the Financial Services Commission of Jamaica. Four companies from around the world have already started the process: BRED, a private equity fund in Burlington (ON), Canada; Lotus Energy, an energy firm in Melbourne, Australia; WiPay, a cross-border remittance company in Port of Spain, Trinidad; and VeleV Capital, an investment firm in Toronto, Canada.
Tokenized IPOs (also known as Security Token Offerings, or STOs) enable issuers to conduct an IPO by utilizing the blockchain, realizing significant efficiencies and cost savings throughout the offering lifecycle from disclosure to issuance to corporate actions and governance.
Features of the platform include:
- Built-in Know-Your-Client (KYC) and Anti-Money Laundering (AML) functionality to satisfy regulatory obligations
- Prospectus+ Smart Listing Accelerator Portal streamlines the creation of complete and compliant disclosure documentation
- Centralized digital filing and communication between all stakeholders to complete the IPO
- Real-time reporting and trade monitoring to mitigate abusive market tactics
- Dramatically reduced costs and timelines to conduct an IPO
“Blockstation’s platform incorporates familiar compliance rules to ensure a fair marketplace. We have spent considerable time and effort in our quest to move forward with Blockstation and to date, the training and support they have provided have been excellent.”
– JSE Managing Director, Marlene Street Forest