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The Jamaica Stock Exchange (JSE) Is Set To Launch BTC And ETH Trading On Its Platform

04 Apr 2019

The Jamaica Stock Exchange (JSE) is reportedly making plans directed at providing users with the opportunity to trade Bitcoin (BTC) and Ethereum (ETH). The exchange plan to achieve this with the help of a Canada-based fintech firm— Blockstation.

The JSE and Blockstation Trials

A joint announcement has been made by the two entities. According to the announcement, both firms will be working closely together to enable live trading of digital assets including security tokens in a “regulated and secured” environment.
The announcement also made it clear that the second stage of the trial is to trade bitcoin and ether. The first stage entails the JSE and Blockstation trialled live cryptocurrency trading which started in January and lasted for 60-days. The live trade trials had top ranking regulated broker-dealers, market makers and the Jamaica Central Securities Depository as participants.
At that time, it was stated that the goal of the firm is to “demonstrate the complete lifecycle of the digital asset ecosystem”.

This second stage will involve the onboarding of retail investors and broker-dealers via a know-your-customer (KYC) process. According to Blockstation, this onboarding process will help them trade bitcoin (BTC) and ether (ETH).
The firm also made it clear that a precise date has not been given for the second stage of the trial to commence.

Official Partnership

Previously a memorandum of understanding only existed between both entities, however, things have moved from that since the last time they both signed the MoU. As of now, the JSE and Blockstation have become official partners.
As a result of their official partnership, both companies will be supporting international small and medium enterprises (SMEs) through the provision of a “streamlined and simple” process for compliantly and transparently raising capital through security token offerings (STOs).

Marlene Street Forrest, the JSE’s managing director, confirmed this in an announcement which reads: “This is an unprecedented opportunity for the JSE to diversify its product offerings and attract new listings and inbound investments.”

 

Source From : Coindoo News

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