Oluchi Chibuzor
NASD OTC Securities Exchange has announced 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.
This is following the recent publication of the Securities & Exchange Commission’s (SEC) Digital Asset Rulebook.
Disclosing this in a joint statement issued by NASD, TK Tech Africa and Blockstation, they said, “This agreement also follows a successful collaboration between both organizations and the Securities and Exchange Commission (SEC) to develop the rulebook that was released recently.”
According to the statement, NASD will be the first exchange in Africa to embrace blockchain-based security tokens, an incredible achievement for Blockstation and NASD, paving the way for further adoption throughout the continent.
Stressing the importance of the agreement, NASD Managing Director and CEO, Bola Ajomale, said, “This agreement is a key part of our strategy to be the most innovative exchange for capital formation in West Africa.
“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.”
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.
While the Head of Business Strategy for Blockstation, Matt Singh, said that, “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. 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.”
