Blockchain
Nigeria’s NASD to Deploy Digital Securities Market by Leveraging Blockstation Platform Following SEC Rulebook
SEC approved rulebook following key demonstrations of Blockstation solution
Toronto, Ontario and Lagos, Nigeria–(Newsfile Corp. – June 14, 2022) – NASD OTC Securities Exchange is pleased to announce that it will soon launch a new Digital Securities Platform (N-DSP) through its new Master Agreement with Blockstation and regional partner TK Tech Africa, following the recent publication of the Securities & Exchange Commission’s (SEC) Digital Asset Rulebook.
An exchange specializing in capital formation for companies in West Africa, NASD expects the Blockstation platform to create a fast-track for issuers to tokenize their assets, raise funds, and connect with a global investor pool. Further, the platform serves all ecosystem stakeholders including issuers, brokers, custodian banks, depositories, regulators, and investors, providing secure, end-to-end functionality for the entire capital markets lifecycle.
“This agreement is a key part of our strategy to be the most innovative exchange for capital formation in West Africa,” says Bola Ajomale, NASD Managing Director and CEO. “By building the N-DSP on the Blockstation platform, we stand to create a secure, efficient and dynamic solution for issuers to tokenize, as well as connect with both brokers and investors more easily than ever before. More broadly, this cutting-edge technology furthers NASD’s mission to enable economic development in Africa through consistent innovation, fulfilling our commitment to our stakeholders and the Nigerian economy at large.”
The Master Agreement is the latest milestone in this initiative, following a successful pilot of the Blockstation platform in 2021 which involved NASD, Stanbic IBTC Bank, Stanbic IBTC Custodian, Capital Assets Limited, Afrinvest Limited, Greenwich Merchant Bank, Utica Capital, Anchoria Investments & Securities Ltd, and Coronation Merchant Bank. The pilot proved the system’s suitability to support end-to-end workflow for all stakeholders in full compliance with market integrity, KYC/AML, and other regulatory requirements.
Speaking on the collaboration between Blockstation, TK Tech Africa and NASD, TK Tech Managing Director Damola Akindolire expressed delight regarding the achievement of this critical milestone and highlighted how the new SEC guidelines will enhance investor confidence and market transformation.
“We are honoured to be directly involved with this process in Nigeria through NASD, and our strategic regional partner TK Tech Africa to advocate for the new digital asset rules,” says Matt Singh, Head of Business Strategy for Blockstation. “Considering Nigerians made over 274 billion dollars’ worth of transactions in e-payments in the first four months of 2022, Nigeria is in a perfect position to leverage blockchain-based investments for its citizens.”
As knowledge of digital securities is critical to the successful takeoff of the digital securities market in Nigeria, NASD and its partners will run the second of their enlightenment webinars Perspectives on Virtual Assets in the Capital Market on June 15 at 11am.
Register here: https://us02web.zoom.us/webinar/register/WN_aG1MsW2wTTuSjEX0GHUgSQ
About NASD OTC Securities Exchange
NASD OTC Securities Exchange (NASD) is a Self-Regulatory Organization licensed by the Securities and Exchange Commission to operate an Over the Counter (OTC) securities exchange in Nigeria for Unlisted Public Securities. NASD manages Primary markets for new capital raises and Secondary markets for existing shareholder liquidity through its community of participants. Our service offerings are designed to deepen the capital market, enhance investor confidence level and ease the capital raise process for businesses.
NASD OTC Exchange is a member of the Association of Securities Exchanges of Africa (ASEA), Lagos Chamber of Commerce (LCC) and the Association of Securities Exchanges of Nigeria (ASEN).
NASD media contact:
Anthonia Uzoukwu
Head, Human Resource and Administration
081-3-9393151
[email protected]
About Blockstation Inc.
Blockstation is a holistic, blockchain-driven platform for the entire lifecycle of tokenizing, listing, trading, clearing and settlement of digital assets and securities 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 digital assets into their book of business, empowering them to attract new issuers, generate increased trading revenue, and satisfy market demand for digital assets.
Blockstation media contact:
Michael Spiar
Communications & Education Manager
[email protected]
1-833-599-7180 X3
About TK Tech Africa
TK TECH AFRICA LIMITED is a technology company that is focused on using blockchain technology to digitize assets, create alternative asset classes and transform financial market transactions in Africa.
TK Tech Africa Media Contact:
Apata Akinfenwa
Business Development
[email protected]
234-1-4545873
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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