Jamaica Stock Exchange to offer crypto trading

Jamaica Stock Exchange (JSE) has partnered with Canadian blockchain technology firm Blockstation to offer cryptocurrency trading to investors.

JSE will become one of the first regulated stock exchanges in the world to offer live digital currency trading.

Blockstation’s network and order management system will facilitate the trading, clearing and settlement of blockchain tokens.

It follows various tests with financial institutions in Jamaica. Blockstation said it had successfully run a live workshop with five broker members and representatives from local regulators.

JSE highlighted rising demand for crypto trading

Investor interest

JSE said it saw the trading of cryptocurrencies as complimentary to the trading of traditional assets such as equities and bonds.

It also highlighted rising demand for trading in digital assets.

“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,” said Marlene Street Forrest, managing director of the JSE.

Smart ECN

Toronto-based Blockstation touts its Smart ECN (electronic communication network) and technology suite as a turn-key, end-to-end solution for the trading, clearing and settlement of bitcoin and other digital assets within a regulatory framework.

Blockstation claims stock exchanges can use its solution to quickly meet growing investor demand for digital currencies and ultimately generate significant new trading revenue.