Blockstation Builds Disclosure Tool for Security Token Issuers on Jamaica Stock Exchange

Blockstation, a digital asset trading systems firm, has built a streamlined disclosures filing tool for companies seeking an STO with the Jamaican Stock Exchange.

AccessTimeIconFeb 19, 2020 at 4:00 p.m. UTC
Updated May 9, 2023 at 3:06 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Blockstation, a Canadian digital asset trading systems firm, has built a fast-track disclosure filing process for companies hoping to list security tokens on the Jamaican Stock Exchange (JSE).

Announced Tuesday alongside JSE’s launch of a tokenized Initial Public Offering (IPO) platform, Blockstation’s new tool, called the Smart Listing Accelerator Process (SLAP), is designed to streamline the filing of required regulatory disclosures and prospectuses, said CTO and co-founder Jai Waterman.

  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Over $1B in U.S. Treasury Notes Has Been Tokenized; FATF Calls for More Regions to Regulate Crypto
    02:04
    Over $1B in U.S. Treasury Notes Has Been Tokenized; FATF Calls for More Regions to Regulate Crypto
  • Moondance Labs CEO on 'Barriers of Entry' for Building Layer 1s
    01:28
    Moondance Labs CEO on 'Barriers of Entry' for Building Layer 1s
  • What Challenges Do Appchains Solve?
    00:59
    What Challenges Do Appchains Solve?
  • Waterman said SLAP “lowers the barrier to entry” for companies that want security token offerings (STOs) but do not know how to sift through the corresponding paperwork.

    The companies may not realize how many disclosure requirements the JSE – and its regulator, the Financial Services Commission – have to inform the public about an investment’s risks. 

    “Full disclosure needs to be there in order to make sure that these investors know what they’re getting in to, and that they’re protected,” said Waterman. 

    Every potential risk has to be laid out in the company’s prospectus. SLAP helps companies do so with a veritable “library” of business risk factors – far more than any one capital-seeking company could guess to include, according to Waterman. 

    “There’s hundreds of risks that people are not necessarily thinking of,” he said. “When you see that huge library, you're like, ‘oh you know what, that kind of applies to us.’ So you can take that concept and make it specific to your business.”

    Building out their filings on SLAP, companies can tailor their prospectus and have a lawyer review the result. Once the filings are finished the companies can submit directly to JSE and FSC.

    Four companies have already begun the regulatory filing process with SLAP, Waterman said.

    The new service is the latest advancement in JSE and Blockstation’s digital asset partnership. Since joining forces in August 2018, the pair have developed and launched a cryptocurrency trading platform. They announced their plan to list security tokens in early 2019.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.