San Juan Mercantile Exchange
|San Juan Mercantile Exchange|
|Headquarters||San Juan, Puerto Rico|
|Key People||J. Robert “Bo” Collins Jr., Founder, CEO; Nick Varelakis, President and COO of San Juan Bank & Trust|
|Products||Cryptocurrency trading platform|
Please note that, after a period of seeming internet inactivity including all of 2020, the San Juan Mercantile Exchange doing business as Mercantile Bank is taking part in a reverse merger with Crucial Innovations Corp. according to Crucial Innovations 8-K filing on January 4, 2021. Traded OTC, Crucial Innovations's securities were registered with the U.S. Securities and Exchange Commission (SEC). The January 4 filing included a copy of the Equity Purchase Agreement. According to documents filed with the SEC, the current CEO of the San Juan Mercantile Exchange, is to become the CEO of the new entity and the officers and members of Crucial Innovations's board of directors are to resign. A press release issued by the San Juan Mercantile Exchange at about the time of the SEC filing said that the surviving entity would leverage its "going public" to continue serving the digital assets trading and investing audience.
Bo Collins, former president of the New York Mercantile Exchange which is now owned by the CME Group, Inc., announced the establishment of the San Juan Mercantile Exchange and its affiliate the San Juan Mercantile Bank & Trust. Together, the entities are to provide institutions trading, settlement and custody services for their cryptocurrency holdings.
The Puerto Rico Office of the Commission of Financial Institutions granted the San Juan Mercantile Bank & Trust a license to operate as an International Financial Entity on March 12, 2019. On April 2, 2019, San Juan Mercantile Bank & Trust's parent, Mercantile Global Holdings, announced that the bank had received its first client deposit.
On August 1, 2019, Collins was appointed to the Invest Puerto Rico board by disgraced Puerto Rico Gov. Ricardo Rosselló shortly before he stepped down from office.
- Bo Collins
- Nick Varelakis
- Crucial Innovations Corp 8-K. U.S. Securities and Exchange Commission.
- Mercantile Bank International Corp. Announces Reverse Merger Transaction with Crucial Innovations Corp.. Mercantile Bank.
- FORMER NYMEX PRESIDENT TO LAUNCH WORLD’S FIRST DIGITAL ASSET EXCHANGE FOR HIGH-FREQUENCY TRADING. Globe News Wire.
- International Financial Entity License Granted for Digital Asset Custodian San Juan Mercantile Bank & Trust. Mercantile Global Holdings.
- A New Bank for Crypto Traders Has Opened in Puerto Rico. CoinDesk.
- As well appointments at Invest Puerto Rico and Science, Technology & Research Trust board. Caribbean Business.