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Jamaica Stock Exchange Exploring Cryptocurrency Trading
Traders Magazine Online News, September 12, 2018
The Jamaica Stock Exchange (JSE) has selected Toronto-based fintech company Blockstation to explore the possibility of offering cryptocurrency trading on the local platform.
In a report in the Jamaica Gleaner, the JSE based in Kingston has signed a memorandum of understanding with the Canadian company, paving the way for further collaboration.
JSE Managing Director Marlene Street Forrest says the service would satisfy considerable investor interest in digital assets.
"We are also proud to be at the forefront of bringing innovation to capital markets," said Street Forrest in a joint statement with Blockstation. "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," she said.
A live workshop on cryptocurrency trading was completed with an initial group of five JSE broker members and representatives of local regulators, according to Blockstation.
Through this agreement, JSE could become one of the first international stock exchanges to deploy an online digital currency and token trading platform. Blockstation said it would include trading, quotes, execution and settlement services in a format that aligns with current regulatory and compliance standards.
Blockstation provides international stock exchanges and brokers with turnkey solutions for trading, clearing and settlement of Bitcoin and other digital assets. The Canadian company's main software is called Smart ECN (electronic communication network) but it also offers a suite of technology products designed to meet the security, liquidity and regulatory requirements of financial institutions.
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