The Jamaica Stock Exchange (JSE) announced on 14 August 2018 that it will begin offering cryptocurrencies for trading by the end of 2018.
The JSE has signed a memorandum of understanding (MoU) with blockchain and crypto firm Blockstation, who will be developing a digital assets platform for JSE. It will create the cryptocurrency side of the platform, while the JSE will integrate their infrastructure into the platform. Apparently, Blockstation has already been developing this crypto trading platform for the JSE for the past six months.
Most importantly, this new crypto platform will be completely regulated with the same laws used to run the JSE, making the crypto investments safe for institutional investors. This could be a way for institutional investors to buy crypto, which is something much desired in the crypto space now that the US Securities and Exchange Commission (SEC) has not be approved any Bitcoin exchange-traded funds (ETF). A Bitcoin ETF would have paved the way for institutional investment into Bitcoin.
There is some speculation that the JSE will launch its own cryptocurrency and this could become a major asset, similar to how Binance Token (BNB) has become a major cryptocurrency as a utility token on the Binance exchange.
Blockstation co-founder and chief architect Jai Waterman, says, “Our mission is to provide a secure method of trading cryptocurrencies with broker-dealers and stock exchanges. We’re providing the stock exchange the technology for a broker-dealer network and repository, so that from end-to-end, their life cycle of trading – just like with securities – they can do the exact same thing with blockchain and cryptocurrencies.”
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