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October 16, 2018

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Jamaica: A Security Token Haven

January 24, 2019


In the midst of the crypto bear market that we have been experiencing since early 2018, new fundraising models have sprung up from what is looking more and more like the ashes of the initial coin offerings niche.


Leading these new options is the growing security token niche that is supposed to represent a more attractive opportunity for regulators and regulated financial institutions to buy-in to the greater crypto movement. The problem with security tokens and their corresponding security token offerings so far has been the same as it still is for initial coin offerings.


Powerful, regulated financial institutions like national stock exchanges still refused to treat cryptocurrencies as legitimate assets despite the examples that countries like Gibraltar and Malta have begun to set. With this in mind, it is reasonable to wonder when larger countries or at least, some of the trusted banks and exchanges that reside in them will begin to follow suit.


Reportedly, a situation has been developing since last week which may indicate some legitimate progress on this front. According to CoinDesk, the Jamaican Stock Exchange has just recently completed a 60-day pilot of live trading of security tokens on their platform, with the help of a blockchain company called Blockstation.


Related to this, they were quoted as saying that they basically plan to move forward with their testing of security tokens until they are eventually traded live at scale, just like any other asset. Once this occurs, we will finally see a form of cryptocurrency being supported in a regulated environment by a country that is at least slightly more well-known in the global financial space than those that have come before it.


Whether or not larger countries will quickly follow suit, remains to be seen. At least, the world will have another valuable example of how cryptocurrencies can work in connection with existing and new regulations.





By: BGN Editorial Staff

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