Jamaica Stock Exchange plans trials of crypto trading

Posted 03 April, 2019

On April 3, the Jamaica Stock Exchange has announced trials of trading of bitcoin and Ethereum following the Master Agreement signed with Canada's Blockstation company. 

According to the announcement, the exchange will offer trading services for both cryptocurrencies and security tokens in the regulated environment and thus will become one of the first exchanges that will provide such services in the world.

"We are incredibly excited to reach this milestone in our partnership with the JSE, bringing digital assets including cryptocurrency and security tokens to mainstream investors," said Jai Waterman, Blockstation’s Co-Founder and Chief Enterprise Architect.

Blockcstatin is among the first providers that offer end-to-end crypto trading platforms to the stock exchanges. Its solutions include trading, clearing, settlement and a compliant listing of both cryptos and security tokens. 

The first stage of trials took place in January and represented a demonstration of the full life cycle of the digital asset ecosystem, according to the report.

As JSE has kept exploring the benefits that it can receive from implementation of the blockchain technologies, this launch is "an unprecedented opportunity for the JSE to diversify its product offerings and attract new listings and inbound investments."

During the second stage of the pilot launch, broker-dealers may lure retail investors to trade coins at the exchange. However, the schedule of the second stage is yet to be unveiled.

Among other plans, the parties reportedly expressed intentions to support small and medium businesses to raise their capital in a fast, transparent and compliant way via security token offering at the platform.

For reference, Jamaica Stock Exchange and Blockstation entered into an MOU last August.

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