Caricoin to launch first licensed bitcoin exchange in Jamaica

Announcements | September 19, 2016 By:

Caricoin has announced that it is in talks with Bank of Jamaica (BOJ) in order to set up first licensed bitcoin exchange in Jamaica.

Karsten Becker, Caricoin’s adviser on Caribbean regulatory told Gleaner Business that the company is much interested in setting up operations in Jamaica. He also mentioned that Caricoin’s platform sees Jamaica as a key place since some investors are Jamaicans.

Caricoin is currently preparing documents to present to BOJ in order to show their sandbox approach towards delivering new technology. Adopting to the sandbox approach would allow startups and other firms to operate instead of undergoing a complex licensing process.

“We have had some exploratory discussions with them, talking about the regulatory framework and the process that would have to be engaged in order for them to secure approval so they can offer the service,” said BOJ deputy governor in charge of technology as well as the payments system Livingston Morrison.

Caricoin is a UK-based bitcoin company with development offices in Kingston, Jamaica.