Bitcoin and Ethereum are being listed on the Jamaica Stock Exchange (JSE).
Through its partnership with Canadian technology startup Block Station, the Jamaica Stock Exchange has agreed to list both bitcoin and ether tokens as part of a trial designed to test both cryptocurrencies’ popularity on the island. Both the stock exchange and Block Station have been in cahoots since the start of 2019 when they announced a plan to launch a “live digital currency trading terminal.”
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In addition, the stock exchange will also list security tokens, though at press time, these tokens have not been announced.
Marlene Street Forrest – managing director of the JSE – commented:
Block Station has been a good partner over the past year, working closely with us and our stakeholders to ensure that their platform satisfies every requirement. This is an unprecedented opportunity for the JSE to diversity its product offerings and attract new listings and inbound investments. We welcome retail investors and companies both locally and around the globe to trade digital assets under a safe, efficient and transparent regulatory framework.
Recently, the Jamaican stock exchange was listed as one of the world’s strongest stock markets. The platform’s stocks have spike by over 300 percent in just the last five years alone.
Block Station co-founder Jai Waterman also had a few things to say about the partnership, explaining:
We are incredibly excited to reach this milestone in our partnership with the JSE, bringing digital assets including cryptocurrency and security tokens to mainstream investors. Digital assets are the future of capital markets, and our turn-key solution paves the way for traditional financial institutions to easily adopt this new, game-changing asset class. We look forward to being part of the evolution of finance going forward.
Jamaica’s attitude reflects a general change in how the world and traditional financial markets are viewing cryptocurrencies. One could easily argue that they are becoming more mainstream, especially since the Jamaica Stock Exchange isn’t the only one in line to list digital assets.
Nasdaq is rumored to be releasing its new coin exchange by the second quarter of 2019. An anonymous spokesperson working with the company has commented that present conversations largely center around how digital currencies “will be classified from a regulatory standpoint.”
Nasdaq is connected to organizations such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which means it’s likely to be hit with plenty of regulatory schemes in the coming months granted it takes the crypto route.
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Nevertheless, Nasdaq is expected to receive education from both groups, and plans appear to be underway. The spokesperson commented:
Doing the math here, look for regulatory bodies to provide guidance in Q1 of 2019, and an announcement and a ‘coin exchange’ to either be announced or launched in Q2 of 2019.