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Listed Merchant Banking Firm Plans to Trade Shares Using Blockchain Tech From Amazon

Publicly listed BlackStar Enterprise Group (OTCMKTS: BEGI) is working to enable digital trading of its own and other companies’ shares through a proprietary blockchain platform.

  • The company announced in a filing with the U.S. Securities and Exchange Commission on Monday that its BlackStar Digital Trading Platform (BDTP) is expected to be completed in Q2 2021 and would use Amazon’s blockchain technology.
  • According to CFO Joseph Kurczodyna’s BlackStar’s aim is to “establish a spot or cash market for investors in public companies” to “even the playing field” with leveraged professional investors.
  • A working demonstration of the platform simulating cash trading activity on the Amazon’s Hyper-Link Blockchain was completed last year.
  • To comply with rules for broker-dealers, BlackStar will need to partner with or register as an alternative trading system, which the it said is currently being evaluated.
  • The firm, which provides merchant banking services to startups with a focus on the blockchain space, said it will continue seeking input from regulators over the coming months.

See also: Amazon Managed Blockchain at Last Supports Ethereum, Ending a Two-Year Tease

   

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