The Jamaica Stock Exchange (JSE) announced they will soon trial ether and bitcoin trades. The JSE will get help from Blockstation-the Canadian fintech firm which we are about to read more about in the latest cryptocurrency news.
Both of the companies decided to form an agreement in order to enable live trading for BTC and ETH. They also included security tokens in their ‘’regulated and secured’’ environment. The decision comes today directly from the Jamaica Stock Exchange.
The pilot for ETH and Bitcoin trades is actually the second stage of the project. For the first stage, the JSE and Blockstation will trail live crypto trading. This process will start in January and will last for 60 days. All of the brokers and dealers who are regulated can participate. Also, the Jamaica Central Securities Depository will also play a role in the pilot.
The goal of the first stage is to ‘’demonstrate the complete lifecycle of the digital asset ecosystem.’’
The second stage will welcome brokers and dealers sign up to the project but also retail investors are expected. All of them will go through the know-your-customer (KYC) process that will enable them to trade Bitcoin (BTC) and Ether (ETH). However, there is no precise data for the beginning of the trial.
While both of the companies have reached a consensus and even signed a memorandum last year, they are now official partners. As a part of the partnership, the companies will try to find support from international enterprises. They will try to provide them with a simple compliance process and how to raise capital transparently via security token offerings (STOs).
The Jamaica Stock Exchange managing director Marlene Street Forrest stated:
“This is an unprecedented opportunity for the JSE to diversify its product offerings and attract new listings and inbound investments.”
She also pointed out:
“The end game at the end of the day is to trade tokens, the end game is smart contracts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner.’’
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