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Jamaica Stock Exchange to test Live Trading Pilot for Bitcoin and Ethereum


Per a press release, Jamaica Stock Exchange (JSE) will soon test a limited pilot for trading Bitcoin(BTC) and Ethereum(ETH). For the same JSE has signed a master agreement with Canadian fintech firm Blockstation. The synergy will purportedly support JSE in development of tools for trading of digital assets and security tokens. 

In late January 2019, JSE and Blockstation launched a successful live-trading pilot in late January 2019. Following which the both the firms continue their endeavour, to build a safe and regulated ecosystem for trading digital assets and cryptocurrencies.

JSE stocks have risen nearly 300% in the last five years. The figure is approximately, more than four times the next best performing national benchmark. 

Yesterday, Switzerland’s principal stock exchange, SIX listed a Ripple (XRP)-based exchange-traded product. In November last year, SIX listed the world’s first ETP tracking an index of multiple crypto assets.The company also received SIX’s approval to launch four more ETPs for other altcoins.

The list includes- 

Also, in late March, UMA, a decentralized financial contracts platform entered into a partnership with MakerDAO, to launch a token suited to needs of the United States stock market. 

The ERC-20 token, named USStocks, aims to offer investors access to the U.S. stock market using cryptocurrency. Also, users can purchase the token using MakerDAO’s own USD-backed stablecoin, Dai (DAI).The initial settlement date  is May 15, when USStocks tokens can then be  exchanged back into Dai. More importantly, MakerDAO seeks  to put an end to teething problems with Dai, the exchange rate of which has plummeted in recent weeks. 

In another news today, CoinMarketFeed reported, San Francisco headquartered major cryptocurrency exchange Coinbase has announced that it is offering insurance coverage for its hot wallet crypto holdings covering a $255 million limit via a Lloyd’s of London-registered broker.

About Jamaica Stock Exchange

The Jamaican Stock Exchange (JSE) is an affiliate member of the World Federation of Exchanges (WFE). It offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, and settlement of transactions. 

About Blockstation

Blockstation was founded in 2014. The list of services provided by the firm include, end-to-end and compliant listing, trading, clearing and settlement of digital assets and security tokens for the entire ecosystem of broker-dealers, investors, issuers, depositories and regulators. Also, it enables stock exchanges to quickly fulfill on investor demand for digital assets, simultaneously attracting new listing and trading revenues.

Image Credit: The Habari Network