Jamaica Stock Exchange, Blockstation Partner To Deliver Crypto Trading To Investors

Blockchain, News | August 15, 2018 By:

The Jamaica Stock Exchange (JSE) has teamed with Canadian Fintech firm Blockstation to enable investors to trade cryptocurrencies within a recognized and secure regulatory framework.

Incorporated in 1968, JSE is the principal stock exchange of Jamaica and an associate member of the World Federation of Exchanges (WFE). It establishes and maintains a central securities depository to facilitate the transfer of ownership of securities that include shares, stocks, bonds, or debentures of companies, and other securities, and provides trustee custodianship and related services.

Blockstation provides international stock exchanges and their broker-dealer networks with a turn-key, end-to-end solution for trading, clearing and settlement of bitcoin and other digital assets within their regulatory framework. It enables stock exchanges to leverage their existing infrastructure, local market leadership and relationships to quickly meet growing investor demand for cryptocurrencies and generate significant new trading revenue.

The partnership will allow JSE to use Blockstation’s end-to-end, smart electronic communication network (ECN) and order management system to facilitate trading, clearing and settlement of cryptocurrencies for its broker-dealers and their investing clients. The goal of JSE is to deploy an online crypto trading platform, including trading, quotes, execution and settlement services, in a format that aligns with current regulatory and compliance standards.

“We are excited to implement this service with our clients, satisfying considerable investor interest in digital assets,” said Marlene Street Forrest, Managing Director of the JSE. “We are also proud to be at the forefront of bringing innovation to capital markets. 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.”

Prior to the agreement, five broker members and representatives from local regulators participated in a live workshop, while Blockstation completed beta testing in Jamaica with the participating institutions.

“Our mission is to provide a secure method of trading cryptocurrencies with broker-dealers and stock exchanges,” said Blockstation co-founder and chief enterprise architect Jai Waterman. “We’re providing the stock exchange the technology for a broker-dealer network and repository, so that from end-to-end, their life cycle of trading – just like with securities – they can do the exact same thing with blockchain and cryptocurrencies.”