The Jamaican Stock Exchange (JSE) has partnered with Toronto-based Blockstation to develop a trading platform for cryptocurrencies.
Blockstation is a company that works with financial institutions and traditional stock exchanges to help integrate digital asset trading into their business. It provides a complete end-to-end solution for compliant trading, clearing, and settlements of cryptocurrencies.
Managing director of the JSE, Marlene Forrest, sees the move as a way to provide customers with an ability to interact with all aspects of blockchain-based technology, including tokens and smart contracts. She went on to detail further intentions of the banks steering committee to investigate setting up their own digital token.
Growing crypto adoption
The move follows news from a number of stock exchanges worldwide that have recently announced the integration of digital assets into their trading platforms. Most notably, the Intercontinental Exchange (ICE) have formed a company called Bakkt with the intention of providing bitcoin futures trading on the New York Stock Exchange (NYSE).
Earlier this year the second largest stock exchange in Germany, Borse Stuttgart, began testing a new cryptocurrency trading app it has developed called Bison. At the time it was the first app of its kind to be backed by a traditional stock exchange.
Last month Switzerland’s main stock exchange, SIX, revealed plans to build a cryptocurrency trading platform called the Swiss Digital Exchange (SDX). Switzerland has been one of the frontrunners of blockchain adoption lately, with the canton of Zug becoming known as ‘Crypto Valley’.
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