Jamaican Stock Exchange, Blockstation Complete First Stage Of Live Crypto Trading Pilot

Announcements, News | January 28, 2019 By:

The Jamaica Stock Exchange (JSE) and Canadian FinTech firm Blockstation have completed the first stage of their ongoing live crypto trading pilot.

The JSE, the principal stock exchange of Jamaica and an associate member of the World Federation of Exchanges (WFE), partnered with Blockstation in August 2018 to demonstrate the complete lifecycle of the crypto ecosystem. The first stage of the blockchain pilot, which ran for a period of 60 days, includes the JSE setting up and managing their broker members and market makers on the platform, and the broker members conducting daily trading and managing their client accounts. During the first stage, the Jamaica Central Securities Depository (JCSD) managed the clearing, settlement and custody of cash and digital currencies, while enforcing compliance reporting and reconciliation across all participating companies.

“The pilot has been very smooth so far and we are quite happy with the results,” said Marlene Street Forrest, Managing Director of the JSE. “We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”

Blockstation, which provides end-to-end digital asset trading platforms for stock exchanges, believes the successful rollout with the JSE is a pivotal step in bringing cryptocurrencies to the mainstream.

“We are excited to have successfully implemented the first real end-to-end digital asset trading ecosystem with the JSE within their regulated environment,” said Jai Waterman, Blockstation’s Co-Founder and Chief Enterprise Architect. “We are looking forward to onboarding, through the pilot exercise, the next wave of brokers and international investors who can enjoy the benefits of safe digital currency access through trusted financial institutions.”