Jamaica Stock Exchange to Pilot Bitcoin and Ether Trading

The Jamaica Stock Exchange is soon to trial bitcoin and ether trades with help from Canadian fintech firm Blockstation.

AccessTimeIconApr 3, 2019 at 12:00 p.m. UTC
Updated Aug 18, 2021 at 11:07 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The Jamaica Stock Exchange (JSE) is soon to trial bitcoin and ether trades with help from Canadian fintech firm Blockstation.

The two firms jointly announced Wednesday that they have entered into an agreement to enable live trading of digital assets including security tokens in a “regulated and secured” environment.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The trial of bitcoin and ether trades is the second stage of the pilot effort. For the first phase, the JSE and Blockstation trialed live cryptocurrency trading in January for a 60-day run that saw participation from regulated broker-dealers, market makers and the Jamaica Central Securities Depository.

    The objective of the first stage was to “demonstrate the complete lifecycle of the digital asset ecosystem,” the firms said at the time.

    The second stage will see broker-dealers sign up and onboard retail investors through a know-your-customer (KYC) process in order to help them trade bitcoin (BTC) and ether (ETH), Blockstation told CoinDesk. No precise date was provided for the start of the trial.

    While the two firms previously had a relationship set out in a memorandum of understanding signed last August, they have now become official partners, Blockstation added.

    As part of the partnership, the partners are looking to support international small and medium enterprises (SMEs) by providing them with a “streamlined and simple" process for compliantly and transparently raising capital through security token offerings (STOs).

    Marlene Street Forrest, the JSE’s managing director, said in the announcement:

    “This is an unprecedented opportunity for the JSE to diversify its product offerings and attract new listings and inbound investments."

    Bitcoin and ether image via Shutterstock 

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.