- April 3, 2019
- Posted by: giancarlo
- Category: News
The Jamaica Stock Exchange (JSE) will soon launch a limited pilot to Bitcoin (BTC) and Ethereum (ETH). This news comes via a press release published earlier today.
The JSE had already engaged in a two month-long pilot with Canadian fintech company Blockstation to “demonstrate the complete lifecycle” of the crypto ecosystem.
On January 25th, Marlene Street Forrest, MD, JSE said of the program:
“The pilot has been very smooth so far and we are quite happy with the results. We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”
Now, after the success of the initial pilot, JSE has executed a master agreement with Blockstation in an effort to develop tools for trading cryptoassets and digital security tokens in a regulated environment.
While the upcoming expanded pilot will still be limited in nature, participating broker-dealers will be able to trade Bitcoin and Ether in the near future.
The partnership has been a long time in the making — last August, the JSE announced that it had chosen Blockstation to introduce digital currency trading on the stock exchange.
Yesterday, Bitcoin Center NYC reported that SIX, the principal stock exchange in Switzerland, had listed a Ripple-based exchange traded product (ETP), with plans to launch more individual crypto-based ETPs in the future, to complement its existing crypto index ETP, which represents a basket of Bitcoin, Ether, Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
With this announcement, Jamaica has taken an important step in making crypto trading available not only to the masses, but institutional investors as well. The United States remains late to the game, with currently no way to trade Bitcoin on a major stock exchange, nor a crypto ETF, the prospect of which is still under review by the Securities and Exchange Commission (SEC).