Jamaica Stock Exchange Reportedly to Start Offering Cryptocurrency Trading.
The Jamaican Stock Exchange (JSE) is soon to start offering cryptocurrency trading to its broker-dealers and investing clients. JSE has announced Canadian Start-up Blockstation is to develop and release the cryptocurrency and token platform to enable investors to buy and sell crypto.
JSE is an associate member of the World Federation of Exchanges (WFE). Back in 2015 it was reported by Bloomberg to be the number one stock exchange in the world based on its performance. The platform offers an electronic service for efficient, secure market trading.
The collaboration was chosen to meet the raising demand for digital asset investment by offering Blockstation’s end-to-end encrypted electronic communication network and order management system for trading, quotes, clearing and settlement. All systems are to be formatted to coordinate with current regulations and compliance. Institutional investors will be looking to the platform to either invest in or sell Bitcoin whilst having the means to invest and sell crypto also.
The collaboration has seen the completion of a live workshop with a group of five broker members and representatives from local regulators along with beta testing with participating institutions. Managing director of the JSE, Marlene Street Forrest has stated ‘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’. Forrest believes there is a strong interest from investors for a platform to invest in digital assets through their traditional financial institutions.
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