Document Security Systems Builds Out DSS Securities Ecosystem through Investments in WestPark Capital and BMI Capital
Document Security Systems, Inc. (“DSS”), a multinational company operating businesses in brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, announced the expansion of its DSS Securities, Inc. business through an equity interest in WestPark Capital, Inc.(“WestPark”) and an investment in BMI Capital International LLC (“BMI”).
“This is a major milestone that falls directly in line with our plans to fill out the ecosystem around DSS Securities and builds upon our recently announced collaboration to develop a digital securities exchange business in the US,” stated Frank D. Heuszel, CEO of DSS.
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DSS executed two separate transactions designed to grow its DSS Securities division, signing a binding note and stock exchange letter of intent to own 7.5% of the issued and outstanding shares of WestPark and acquiring 24.9% of BMI through a purchase agreement.
“We have participated in the blockchain space since its earliest days,” commented Richard Rappaport, Chairman and Founder of WestPark. “DSS Securities is extremely well positioned in the industry with its recent JV with Coinstreet Partners and GSX Group, and we believe this is the beginning of a lasting, mutually rewarding relationship.”
WestPark is a full-service investment banking and securities brokerage firm which serves the needs of both private and public companies worldwide, as well as individual and institutional investors.
BMI is a private investment bank specializing in corporate finance advising, raising equity, and venture services, providing a global “one-stop” corporate consultancy to listed companies. From corporate finance to professional valuation, corporate communications to event management, BMI services companies in the US, Hong Kong, Singapore, Taiwan, Japan, Canada, and Australia.
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“Change is constant in the markets,” added Robert Trapp, CEO of BMI. “We are excited to work with DSS Securities as they capitalize on the wealth of opportunities presented by the latest seismic shifts revolutionizing the securities industry.”
Heuszel continued, “The transformative potential of digital securities is extremely exciting. Working closely with WestPark and BMI, we can tap into established channels to accelerate the development of a secondary market in securities tokens, what we believe will be the next evolutionary stage in capital markets development.”
“This is a great opportunity that provides a conduit to propel widespread interest in our digital security exchange,” added Jason Grady, COO of DSS. “We plan to continue to invest in these and other similar ventures as opportunities warrant, effectively allocating the capital we have available to drive growth and maximize returns.”
Regulated digital securities exchanges provide a single point of access to issuance, listing, trading, and settlement of digital securities for public and private companies issuing equities, debt, investment funds, real estate, and commodities. In addition to providing an alternative to current public markets, digital securities exchanges are positioned to tap into the $6.5 trillion private company market, which is estimated to be growing 2x faster than public markets.