Digital Payments Provider WiPay, made in Trinidad but now headquartered in Jamaica plans to finally do a Tokenised Initial Public Offering (IPO) on the Junior Market of Jamaica Stock Exchange next year after a three-year delay.
Wipay had set an initial date of Q1 2020, to go public with a Tokenized IPO through Blockstation, but then the global pandemic hit. Now back on track, Wipay’s path to this IPO is projected to be cheaper, faster, and more streamlined than a traditional legacy IPO.
This strategic move of a Tokenized IPO, is made possible, as, in 2019, the Jamaica Stock Exchange (JSE) announced the execution of a historic Master Agreement, led by its Managing Director, Marlene Street Forrest with Blockstation, a leading Canadian FinTech company, becoming one of the first stock exchanges in the world to sign an agreement to enable live trading of digital assets and security tokens in a regulated and secured environment.
Blockstation will provide one of the first end-to-end digital asset trading platforms for the stock exchange network, offering compliant listing, trading, clearing, and settlement of digital assets and security tokens to the entire ecosystem of broker-dealers, investors, depositories, and regulators.
The six-year-old Caribbean Fintech WiPay is in the market to solve the persistent digital payments challenges in addition to the unbanked and underbanked problems across the Caribbean.
The Founder and CEO is Trinidadian Aldwyn Wayne, the Company Chairman is former Bank of Jamaica Deputy Governor Mr. Livingstone Morrison, and Roots Financial, a company owned by Kevin Donaldson former Sagicor Jamaican executive owns a five percent equity stake in its Jamaican subsidiary.
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