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As a means of generating significant revenue for the nation’s treasury as well as placing their country on “the cutting edge of the new system of creating wealth”, the government of Antigua and Barbuda are looking to become leaders in the world of tokenization by creating their very own cryptocurrency exchange. As such, the Antigua and Barbuda Ministry of Finance and Corporate Governance (MFCG), GlobexUS Holdings, Corp (Globex) and Julius Capital Bank Inc., just announced they have signed a Memorandum of Understanding to make Antigua a global center of excellence for digital securities issuance and secondary trading on the Ethereum blockchain. (read the press release here).

The solution addresses key blockchain securities trading obstacles by utilizing Globex’s dollarized securities exchange software directly linked to fiat correspondent banking services for market participants. Globex is the blockchain tokenization company that powers the technology aspect of the World Token Market.

The exchange will facilitate buyers and sellers of tokenized assets and crypto trades for a fee and is expected to generate non-tax revenue for the budget of the island nation, a move that puts them in the driver’s seat as this technology and its popularity grows. The transaction is being spearheaded by Canadian-born businessman Calvin Ayre, Prime Minister Gaston Browne, and IT Minister Melford Nicholas. Mr. Ayre has done quite well investing with cryptocurrency and recently announced his intentions to build a $100 million dollar resort at Valley Church Beach in Antigua as well as invest in mining facilities with his crypto profits.

Antigua and Barbuda is an independent Commonwealth sovereign country comprising its two namesake islands and several smaller ones, situated between the Caribbean Sea and the Atlantic Ocean. It is a member of the Commonwealth of Nations. Tourism and Financial Services account for over three-quarters of the national economy. Antigua and Barbuda’s banking sector is the second largest in the Eastern Caribbean region. Notably, the country is ranked number 33 in the world for the Rule of Law by the World Justice Project. With this goal of their own cryptocurrency exchange, authorities in the capital Saint John’s hope their country will become an early leader in tokenization adoption and blockchain technology implementation.

Small independent nations such as Antigua are making waves as perhaps the unlikely leaders in blockchain adoption with their newly announced crypto exchange. But if they are successful, they’ll certainly have a heads-up on their competition as this entire industry continues its potential to disrupt capital markets in ways which seemed impossible just a few years ago. There’s only one question: Which forward-thinking government is next to use the tokenization services at the World Token Market?