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
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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