Jamaican Stock Exchange To Pilot Bitcoin And Ether Trading

News | April 4, 2019 By:

The Jamaica Stock Exchange (JSE) will soon launch a limited pilot to trade bitcoin and ethereum.

In August 2018, the JSE the principal stock exchange of Jamaica and an associate member of the World Federation of Exchanges (WFE), partnered with FinTech firm Blockstation to demonstrate the complete lifecycle of the crypto ecosystem. In January of this year, the two firms a successfully completed a live crypto trading pilot, which included participation from the JSE’s broker-dealer members and the Jamaica Central Securities Depository (JCSD).

In its recent announcement, the JSE said that it has signed a master agreement with Blockstation to continue developing tools for the trading of digital assets and security tokens in a regulated and secured environment. The JSE plans to leverage the new agreement to support international small and medium enterprises (SME) by providing them with a streamlined and simple process for raising capital in a compliant and transparent manner through security token offerings (STOs). The agreement will also help create an inclusive, regulated market that is more accessible to institutions, as well as non-accredited investors who would otherwise be excluded from lucrative opportunities in the digital asset space.

“This is an unprecedented opportunity for the JSE to diversify its product offerings and attract new listings and inbound investments,” said Marlene Street Forrest, Managing Director of the JSE. “We welcome retail investors and companies both locally and around the globe to trade digital assets under a safe, efficient and transparent regulatory framework.”

As part of the agreement, a limited pilot to trade bitcoin and ether through the JSE and participating broker-dealers will be launched soon.

“We are incredibly excited to reach this milestone in our partnership with the JSE, bringing digital assets including cryptocurrency and security tokens to mainstream investors,” said Jai Waterman, Blockstation’s Co-Founder and Chief Enterprise Architect. “Digital assets are the future of capital markets, and our turn-key solution paves the way for traditional financial institutions to easily adopt this new, game-changing asset class. We look forward to being part of the evolution of finance going forward.”