The Jamaica Stock Exchange (JSE) has suggested that it is now looking to list security tokens on its platform after a successful trial with regulated market participants including the Jamaica Central Securities Depository (JCSD).
The launch of trading on the JSE has been delayed as the original target completion date was set for the end of 2018, but the actual development, in cooperation with Canadian blockchain and crypto firm Blockstation, took the best part of a year.
The Jamaica Central Securities Depository played a major part in the trial, including managed settlement and custody of funds, both fiat and cryptocurrencies. JSEs managing Director Marlene Street Forrest commented that the pilot had been very smooth and now the exchange was looking forward to the next step which would be trading.
Blockstation, founded in 2014, was chosen as the partner for the JSE last year primarily because of its vast range of services including, compliant listing, trading, settlement, clearing and custody of digital assets and security tokens used by the exchanges ecosystem of investors, regulators, depository and broker-dealers.
The company’s co-founder and Chief Enterprise Architect Jai Waterman said that he was “excited to have successfully implemented the first real end-to-end digital asset trading ecosystem with the JSE within their regulated environment”.
Forrest said that the JSE hopes to start trading tokens and smart contracts once all trials have been completed.
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