The Jamaican Stock Exchange (JSE) has teamed up with Blockstation to enable trading of cryptocurrencies and tokens within a recognized and regulated framework. The JSE searched globally for the perfect partner to bring crypto to the Jamaican market and decided to use Blockstation’s technology. It will supply the JSE with an end-to-end electronic communication network and order management system to facilitate trading, as well as clearing and settlement of blockchain tokens for its broker-dealers. A number of regulated exchanges have been making inroads into the crypto markets lately, most notably the Intercontinental Exchange (ICE).
Jamaica Ahead of the US
With this partnership, once crypto trading goes live on the JSE it will become one of the first traditionally regulated financial exchanges to launch an online digital currency and token trading platform. The US isn’t far behind with ICE’s latest project, but it will still be a number of months before it is ready to launch anything. America appears to be caught up in the SEC’s decision to postpone another Bitcoin ETF. The American crypto space is heavily relying upon a Bitcoin ETF to be approved by the SEC, and for this reason very little exciting crypto news is coming out of America. It could be argued that this is the reason behind the bleeding crypto prices.
How Does Blockstation Work?
Blockstation essentially provides the JSE with a plug and play component that integrates with its existing trading platform, but opens the door to the vast crypto markets. It allows the JSE to serve up the essential tools required to give clients real-time price quotes, order placement, order settling, and clearing. It touts itself as a high-end solution for crypto trading and will pull the JSE into the 21st century – when you look at what it’s bringing to the table, it’s tough to argue against this claim.
Boerse Stuttgart Already Trading Crypto
The German Boerse Stuttgart is currently leading the way when it comes to traditional financial exchanges trading crypto, and it has been doing so for a few months now. Most recently, the Boerse Stuttgart announced it will enable ICO trading on Bison – its mobile app. The aptly named mobile app is a powerful trading platform that fits right in your pocket, with it tearing down barriers and removing the stigma surrounding the crypto world.
Malta Isn’t Far Behind
The Malta Stock Exchange (MSE) has announced a partnership with crypto exchange OKEx to create a secure and regulated token trading platform. Malta has become a hotbed for crypto companies and is one of the most forward-thinking nations when it comes to crypto adoption. Recently the island nation passed three crypto-friendly bills into law, cementing its place as a leader in the crypto sphere.
The JSE is set to launch its crypto trading platform to the public very soon. It recently conducted a live workshop with five key brokers and local regulators to demonstrate the new platform and its capabilities. Finally, some encouraging news in the crypto space, hopefully this is what the bulls have been waiting for, as Bitcoin could certainly do with a shot in the arm.