Jamaica stock exchange will initiate Bitcoin and Ether exchange.
The Jamaica Stock Exchange (JSE for its acronym in English), reported that the agreement signed last year with the Canadian startup Fintech Company Blockstation, entered the implementation phase. The association aims to initiate the trade of digital assets and security tokens for brokers, through the stock exchange institution.
According to the announcement, which was announced on Wednesday, April 3, the master contract was completed after a successful pilot test. Members of brokerages and brokers of both JSE and the Central Depository of Jamaica (JCSD) participated in the trial. The next step will be the beginning of the commercialization of the first two test cryptoactives, bitcoin (BTC) and ether (ETH), through JSE.
The Jamaican Stock Exchange and the Canadian Fintech signed the master contract in mid-August 2018. The proposed goal is to offer regulated, secure trading, quotation, execution and liquidation of cryptoactive services.
JSE CEO Marlene Street Forrest said they have worked closely with Blockstation to ensure that the exchange platform meets the needs of the stock market ecosystem.
“This is an unprecedented opportunity for JSE to diversify its product offerings and attract new listings and inbound investments. We welcome retail investors and businesses both locally and worldwide to commercialize digital assets under a secure, efficient and transparent regulatory framework.”
Among the objectives that JSE aims to fulfill with this project, is to facilitate the financing processes of small and medium-sized enterprises (SMEs), through offers of security tokens (STO). It also aims to create a more inclusive regulated market, accessible to non-accredited investors.
For his part, Jai Waterman, co-founder and corporate architect of Blockstation, believes that digital assets are the future of capital markets. Waterman also said that they are focused on facilitating the adoption of cryptoactives by traditional financial institutions.
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