WiPay eyes junior stock market for 2020

WiPay eyes junior stock market for 2020

…entity says the Jamaican stock market is the place to do good business

Wednesday, December 11, 2019

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At the fourth staging of the Tech Beach Retreat held in Montego Bay at Iberostar Hotel last week WiPay Jamaica, a Trinidad-based e-commerce platform launched earlier this year, announced they are in discussions to have the company listed on the Junior Stock Exchange (JSE) in year 2020.

Aldwyn Wayne, founder and chief executive officer (CEO), said his company has been in dialogue with Blockstation, which is a platform that provides an end to end, compliant, digital asset trading marketplace solution for stock exchanges – so that his company can be listed as a digital asset on the Junior Market of the Jamaica Stock Exchange in the coming year.

“We know Jamaica has the best-performing stock market in the world, which indicates that it's the place to do good business – so we opened a location here in Jamaica. We intend to utilise this stock market, so in 2020 we will partner with Blockstation to get into digital asset trading which will allow for WiPay to be traded on the JSE,” he said in a release shared.

He said that in crafting this master partnership his company, among others, is aiming to change the face of e-commerce in the Caribbean.

“The 'PayPal of the Caribbean' has a bright and promising future ahead in 2020, and this level of regional collaboration can only serve to improve the Caribbean's innovative ecosystem,” he further stated.

At the launching of the WiPay platform in Jamaica earlier this year, it was said that this technological advancement will move the current e-commerce system of the country into the First World, enabling especially micro, small and medium-sized enterprises (MSMEs) to conduct the digital transfer of payments for products and services offered online.

“Partnerships and developments of this nature are a part of the legacy of the Tech Beach retreat, and this legacy will only strengthen with each year's staging. This year, the team has also decided to shine a light on inclusivity in the technology field, with the inclusion of several females who are dominating the technology and innovation space on a local and global scale,” the release also outlined.

With Google and the Inter-Development Bank (IDB) Lab on board as title sponsors for this year's staging, the launch was an image of the tech conference's core — featuring entrepreneurship, technology, innovation and community.

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