The Jamaica Stock Exchnage (JSE) is set to list security tokens as tradeable assets for its clients.
Following up on its partnership with Canadian fintech company – Blockstation, JSE announced the completion of the first phase of a 60-day live trial of the cryptocurrency (digital assets) trading platform.
According to JSE’s Managing Director Marlene Street Forest, the trial phase has been smooth as she expressed satisfaction with the results and optimism towards the next stage of the project which involves the listing of security tokens in line with investor’s interests in these digital assets.
Speaking on the pilot project and partnership, she opines:
We are proud to be at the forefront of bringing innovation to capital markets. We are very comfortable moving forward based on the training and support provided by Blockstation, and because their trading platform incorporates familiar compliance rules to ensure a fair market place.
The JSE MD further outlined the objectives of the pilot project, highlighting its aim to demonstrate the complete life cycle of the digital asset ecosystem – involving the setup of a local cryptocurrency trading platform, management of participants and offering investors opportunity to invest in digital assets through their traditional financial institutions.
Extensively, the proposed STO listing is a sum of preparatory plans made by the stock exchange in 2018 where it looks to provide token trading, smart contracts and a wholesome cum secure market for clients interested in digital asset products. The JSE by this agreement could become one of the foremost international stock exchanges to deploy an online digital currency and token trading platform.
In all, Security Tokens (STO) continue to make headline inclusion and listing on varying exchanges and institutional platforms. It is generally believed that through these tokens (STO), the emerging institutional interest in digital assets will take shot as most institutions shy off utility tokens at this time.
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