WiPay, a growing digital payment portal in the Caribbean that originated in Trinidad and Tobago, is finally setting the stage for its long-awaited IPO on the Jamaica Stock Exchange (JSE).
This is a very important step in the company’s lifecycle, initially, the date was set for 2020 and then the pandemic came and changed everything. Subsequently, after the halt in its IPO, the company was in a bit of a limbo and analysts were wondering when the company would list on the market.
Now that news is coming out that it is early next year, I am sure investors are interested in the potential prospects of this company. Another interesting thing to note is that the company will be listed as a digital asset.
They have partnered with Canada-based Blockstation as its technology partner for the IPO.
Blockstation is also a partner of JSE, the Barbados Stock Exchange, and other stock exchanges in the Caribbean. They help are helping to drive these archaic stock exchanges into a digital future by using blockchain technology.
The other interesting thing is that WiPay customers will gain access to the IPO by tapping a button on the app. Blockstation already has the technology in place to do this. I am assuming that WiPay stocks will come in the form of crypto tokens similar to any cryptocurrency we might purchase through Coinbase.
Since the delay in the IPO from 2020, WiPay has been making moves to improve its overall business. For example, WiPay now operates Volt, its own money-settlement system, which doesn’t require the services of a correspondent US bank and keeps money in its network.
WiPay also has other interesting plans in the works such as offering digital credit cards that run on the MasterCard network. It would avoid the use of a physical card and allow users to make payments by phone.
In summary, let’s see how it goes, WiPay has a lot of potential. I am sure investors will back the company with utmost confidence. Only time will tell how the company develops along its course to become a dominant force both in the region and globally.
