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The Jamaica Stock Exchange (JSE) will soon be offering cryptocurrency trading to it broker-dealers and investing clients, the company said[1] on Tuesday. Canadian blockchain startup Blockstation will help it build and deploy the online digital currency and token trading platform.
The new offering will include trading, quotes, execution and settlement services, in a format that aligns with current regulatory and compliance standards.
The two companies have been working on the project since the beginning of the year and a live workshop has already been successful completed with a group of five broker members and representatives from local regulators. Blockstation previously completed successful beta tests in Jamaica with participating institutions.
“It is very important for investors to be able to invest in digital assets through their traditional financial institutions,” Kirk Brown, head trader for Sagicor Investments, and a broker member of the JSE, said in a statement. “It’s exciting to be at the cutting edge where digital currency demand meets safe reliable access.”
Marlene Street Forrest, managing director of the JSE, said the initiative aims to respond to the rising demand for crypto-assets from investors.
The JSE joins the growing list of stock exchanges around the world looking to tap into the thriving crypto-asset industry.
Last month, the Malta Stock Exchange inked[2] a deal with OKEx, Fifth Force and Binance to develop and launch blockchain-powered trading platforms for security tokens. One of these platforms will support the listing and trading of tokenized securities alongside crypto-assets.
Germany’s second largest stock exchange Boerse Stuttgart is building[3] an “end-to-end infrastructure for digital assets.” In addition to BISON, a mobile-based cryptocurrency trading application, the firm is developing an initial coin offering (ICO) platform, a trading venue and custody services for cryptocurrencies.
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