“3rd Wall Street” initiative aims to position St. Croix as a regional hub for capital markets, financial services and investment
U.S. VIRGIN ISLANDS — Governor Albert Bryan Jr. announced plans for the development of the CASE Capital Markets–3rd Wall Street Financial District Hub and Alexander Hamilton Global Financial Centers, an initiative designed to establish St. Croix as a new center for capital markets, financial services and international investment.
The initiative, collectively operating as 3rd Wall Street, will be headquartered in downtown Christiansted within a federally designated Qualified Opportunity Zone and is intended to attract financial institutions and specialized firms engaged in banking, bond underwriting, insurance and reinsurance, securities and commodities trading, investment management, financial technology and related services.
The project is part of the Bryan-Roach Administration’s broader effort to diversify the Virgin Islands economy by developing industries capable of creating higher-paying career opportunities, attracting private investment and expanding the Territory’s participation in global commerce.
“We have spent the last several years working to modernize the Virgin Islands and create the conditions for new industries to take root here,” Governor Bryan said. “The real opportunity with 3rd Wall Street is not simply bringing financial companies to St. Croix. It is creating careers, building expertise and giving more Virgin Islanders the opportunity to participate in an industry that can generate new economic activity and opportunity for years to come.”
As part of the initiative, the Government of the Virgin Islands is moving forward with a public-private partnership with Global Impact Assets LLC, an infrastructure finance firm specializing in private credit bond underwriting. According to the project’s developers, the company intends to domicile operations in St. Croix as part of the development of a specialized Virgin Islands-based bond market.
Bond issuances developed through the initiative are expected to be marketed as Hamilton Bonds, recognizing Alexander Hamilton’s historic connection to St. Croix. The proposed market would be supported by specialized underwriting and correspondent banking operations based in the Territory.
Governor Bryan is expected to welcome Global Impact Assets Chairman and CEO Camilo Salomon to St. Croix in the coming days as the parties continue working through implementation details.
Other prospective financial-service partners are also completing incorporation, registration and application processes associated with establishing operations through the 3rd Wall Street initiative. Those businesses include firms involved in international currency exchange and other cross-border financial services.
The broader concept is designed to use the Virgin Islands’ position within the U.S. financial and regulatory system, along with existing economic-development programs, to create stronger connections with financial centers in the United States and overseas.
The Administration said the initiative builds on ongoing efforts to modernize government, strengthen infrastructure and broaden the Territory’s economic base beyond its traditional industries.
Governor Bryan also credited Anthony Weeks, the Virgin Islands Special Economic Envoy to Taiwan and the Asia-Pacific Region and chairman and CEO of SEDI-CASE, for advancing the concept over several years.
“Anthony has remained committed to the idea that the Virgin Islands can play a much larger role in international finance,” Governor Bryan said. “What began years ago as a proposal for a Virgin Islands stock exchange has evolved into a broader financial ecosystem. Now the work is to turn that vision into real businesses, real investment and real opportunities for Virgin Islanders.”
Additional details regarding participating firms, implementation timelines and the development of the Christiansted financial district will be announced as agreements and regulatory processes are completed.
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