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

Blockstation, a Canadian digital asset buying and selling methods agency, has constructed a fast-track disclosure submitting course of for firms hoping to checklist safety tokens on the Jamaican Inventory Trade (JSE).

Introduced Tuesday alongside JSE’s launch of a tokenized Preliminary Public Providing (IPO) platform, Blockstation’s new device, referred to as the Sensible Itemizing Accelerator Course of (SLAP), is designed to streamline the submitting of required regulatory disclosures and prospectuses, mentioned CTO and co-founder Jai Waterman.

Waterman mentioned SLAP “lowers the barrier to entry” for firms that need safety token choices (STOs) however have no idea tips on how to sift by means of the corresponding paperwork.

The businesses might not notice what number of disclosure necessities the JSE – and its regulator, the Monetary Providers Fee – have to tell the general public about an funding’s dangers. 

“Full disclosure must be there with a view to make it possible for these traders know what they’re getting in to, and that they’re protected,” mentioned Waterman. 

Each potential danger must be specified by the corporate’s prospectus. SLAP helps firms achieve this with a veritable “library” of enterprise danger elements – way over anyone capital-seeking firm may guess to incorporate, based on Waterman. 

“There’s lots of of dangers that individuals are not essentially considering of,” he mentioned. “If you see that vast library, you are like, ‘oh you already know what, that type of applies to us.’ So you’ll be able to take that idea and make it particular to your enterprise.”

Constructing out their filings on SLAP, firms can tailor their prospectus and have a lawyer evaluation the consequence. As soon as the filings are completed the businesses can submit on to JSE and FSC.

4 firms have already begun the regulatory submitting course of with SLAP, Waterman mentioned.

The brand new service is the most recent development in JSE and Blockstation’s digital asset partnership. Since becoming a member of forces in August 2018, the pair have developed and launched a cryptocurrency buying and selling platform. They introduced their plan to checklist safety tokens in early 2019.