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Crypto Trading to Come to Jamaica Stock Exchange by End of Year

Aug 15, 2018, 9:10AM
1 min, 27 sec READ

The Jamaican Stock Exchange and Canadian Blockstation announced they will start offering token trading for institutional and individual investors

The Jamaican Stock Exchange (JSE), which was the best performing stock Exchange in the world in 2015 according to Bloomberg, has announced that it will be working alongside Toronto-based fintech company Blockstation to offer token trading services for individual and institutional investors before the end of the year. Both companies have signed a memorandum of understanding consolidating the alliance.

In a press release published on August 14, the JSE announced that it has already completed a live workshop with the participation of local regulatory agencies and a total of five unidentified broker members. Blockstation also announced that it had successfully run beta tests in Jamaica with several participating institutions.

Marlene Street Forrest, the Managing Director at the JSE, who also considers tokens and smart contracts to be “the end game”, said regarding the joint initiative,

We are excited to implement this service with our clients, satisfying considerable investor interest in digital assets. We are also proud to be at the forefront of bringing innovation to capital markets. We are very comfortable moving forward based on the training and support provided by Blockstation, and because their trading platform incorporates familiar compliance rules to ensure a fair marketplace.

Blockstation was chosen among a wide variety of suitors because of its “end-to-end” order management system and electronic communication network, which will be used by the JSE to handle the trading, clearing and settlement of crypto assets for clients and broker-dealers.

Once this project takes off, the Jamaican Stock Exchange will become one of the world’s pioneer exchanges to offer regulated execution, settlement, quotes, and trading services for the blockchain token market.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.