Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading
The Jamaica Stock Exchange (JSE) has announced it plans to allow investors the ability to trade cryptocurrencies through the regulated stock exchange. According to the JSE, the Canadian-based Blockstation will help facilitate the crypto-trading services.
Jamaica Stock Exchange Plans to Facilitate Crypto-Asset Trades in 2018
The Jamaica Stock Exchange is interested in offering its clientele the ability to invest in digital assets. The JSE announced on Tuesday that the organization is partnering with the company Blockstation by signing a memorandum of understanding (MoU). The MoU states the two firms will enable JSE customers the ability to trade blockchain tokens within a secure and regulatory framework. JSE says that Blockstation’s network is well suited for managing digital currency trades, and the clearing and settlement of blockchain tokens.
Satisfying Considerable Investor Interest in Digital Assets
The two organizations believe the agreement will be a milestone as it could become the first international stock exchanges that will allow cryptocurrency trades. At the moment only digital currency futures, options, and exchange-traded notes are traded in a regulated stock exchange type of environment. JSE has been working with Blockstation by completing tests and hosting a successful live workshop with brokerage members and local regulators.
“We are excited to implement this service with our clients, satisfying considerable investor interest in digital assets. We are also proud to be at the forefront of bringing innovation to capital markets,” explains Marlene Street Forrest, the Managing Director of the JSE.
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.
The Importance of Offering Digital Assets Through Regulated Financial Institutions
Since the JSE launched its principal stock exchange in Kingston, Jamaica the organization has seen a lot of development. To accommodate growth the JSE launched its online trading platform in 2015, which at the time was the first of its kind within the Caribbean, enabling clients to view market performance, and buy and sell securities. A broker member of the JSE from the firm Sagicor Investments, Kirk Brown, says the JSE decision to offer digital currency trading is paramount for the growth of this budding tech-driven economy.
“It is very important for investors to be able to invest in digital assets through their traditional financial institutions,” Brown emphasizes.
It’s exciting to be at the cutting edge where digital currency demand meets safe reliable access.
What do you think about the Jamaica Stock Exchange planning to offer digital currency trading services? Let us know your thoughts on this subject in the comment section below.
Images courtesy of Shutterstock, and Pixabay.
Need to calculate your bitcoin holdings? Check our tools section.
The post Jamaica Stock Exchange Plans to Offer Cryptocurrency Trading appeared first on Bitcoin News.
We promise to keep your email safe and never spam you.
Copyright (c) 2017 PiMP LLC. All rights Reserved.