Jamaica Stock Exchange seeks to enable cryptocurrency trading

The Jamaica Stock Exchange (JSE) is seeking to enable cryptocurrency trading for investors.

To achieve this, the JSE has selected Canadian fintech company Blockstation and signed a Memorandum of Understanding (MOU) to enable investors to trade blockchain tokens within a recognized and secure regulatory framework.

According to the official release, the JSE has chosen Blockstation’s end-to-end, electronic communication network and order management system to facilitate trading, clearing and settlement of blockchain tokens for its broker-dealers and their investing clients.

“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. “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.”

Blockstation co-founder and chief enterprise architect Jai Waterman told CoinDesk that the company has been working with the JSE for nearly six months. A live workshop has been completed with an initial group of five broker members and representatives from local regulators.

The platform is expected to launch by the end of the year. With this, the JSE could become one of the first international stock exchanges to deploy an online digital currency and token trading platform, including trading, quotes, execution and settlement services.