The Antigua and Barbuda Ministry of Finance & Corporate Governance (MFCG), GlobexUS Holdings, Corp (Globex) and Julius Capital Bank Inc., have announced the signing of a Memorandum of Understanding (MoU) to make Antigua a global center of excellence for digital securities issuance and secondary trading on the Ethereum blockchain.

Antigua and Barbuda is an independent Commonwealth country comprising its two namesake islands and several smaller ones. Its banking sector is the second largest in the Eastern Caribbean region. Globex offers a suite of integrated blockchain software applications for the compliant issuance and secondary trading of digital securities.

Also Read: Seychelles to Beat Rivals & List World’s First Security Token on its Stock Market

Steps Undertaken

The proposed framework combines three critical components for a healthy digital securities marketplace to thrive on the Ethereum public blockchain:

(i) government backing with the MFCG establishing the regulatory framework required to protect investors, ensure global financial regulatory transparency for market participants, and maintain national market integrity;

(ii) Globex’s proprietary blockchain technology solutions to integrate a dollarized digital securities exchange for compliant issuers to list and trade globally 24/7 with T+0 settlement;

(iii) a licensed financial institution, Julius Capital Bank Inc., to provide an accessible fiat banking on-ramp and off-ramp for traders that wish to transact in the Antigua and Barbuda digital securities marketplace.

Read the full announcement for a detailed understanding here

Key Comments

Prime Minister Gaston Browne stated “The Antiguan government strongly supports public blockchain technology and believes in the positive impact it will have on how the world trades securities. We are thrilled to become a trusted hub for international issuers, investors and market participants. We are looking forward to give investors access to the lucrative opportunities that our beautiful twin-island state has to offer.”

Globex CEO Brian Collins said “The new age of securities is here, and we are honored that our technology solutions have been selected to power this incredible operation. Having the Ethereum public blockchain integrated with our suite of tokenization, KYC/AML, custody and on-chain trading solutions will encourage market adoption and fuel market growth.”

Found this article useful? Follow us on Twitter and like us on Facebook to get latest updates about security tokens straight in your pocket.