Topic: Jamaica Stock Exchange to Trade Crypto Assets in 2018 (Read 170 times)

I'm not surprised by the media crypto outlet posting without doing further investigations. LMAO at coindesk giving their own timeline. They just wanted to get fresh news and be the first but sadly we can say that this is just another fake news. The crypto media is really getting worst by day and they just wanted to have traffic=huge revenues. No investigative journalism to say the least.

Yes anything is better than countries looking to ban crypto. This move by
the Jamaican Stock Exchange is welcome IMO.

The link above does not provide much Insight and no date, they are just
exploring the idea.

Jamaica Stock Exchange Limited (JSE) Memorandum of Understanding with Blockstation

Posted: August 16, 2018 at 5:25 pm

The Jamaica Stock Exchange Limited (JSE) has advised that the JSE has signed a
Memorandum of Understanding with Blockstation to explore the possibilities of
offering cryptocurrency trading to investors.

The market will be notified of ongoing developments as the framework and platform
to effect such trading is currently being examined.

I was wondering how this fits in with general thinking in Jamaica to bitcoin
and crypto and I came across this articke from last year which has an air
of positivity tiwards crypto >
https://bravenewcoin.com/news/the-central-bank-of-jamaica-is-actively-building-cryptocurrency-awareness/

It is a matter of time before we see this reality, and that time is fast approaching. Jamaica may not be the 'big' economies we all are expecting to lead this adoption, yet it is a resounding win for the cryptocurrency.

The link to the article is as below,

https://www.coindesk.com/jamaica-stock-exchange-to-trade-crypto-assets-in-2018/

Also I have found the official announcement published in the website of JSE. Link below,

https://www.jamstockex.com/jamaica-stock-exchange-limited-jse-memorandum-of-understanding-with-blockstation/

However, the official news is saying that JSE is currently exploring the possibility to offer such trading in future. No timeline has been given so I believe Coindesk decided to put the timeline on their own. Even though it is a great news for the market, but changing or amending the fact is not a good practice!

It's good that crypto currencies help people change the world. Let it be. Although much can change

Jamaica is a great holiday destination so it would be great if they accepted crypto so travellers can use it. Although it's just an exchange for now, it's a good start. Central America is already crypto friendly and South America is heading that way too

Claims like this post needs to have a reliable source for authentication of the truth in it. Is Jamaica a friendly crypto country, if it is then I don't doubt such news and believe is in the right direction to add more reliability to the crypto market.

Firstly, I don't understand why everyone is mistaking Jamaica for an African country. I know it has 92.1% African (black) population, however, it is located in the Caribbean and is considered a North American country. Secondly, this indeed is great news for cryptocurrencies—more countries supporting (or not banning, if you would like) them gives a boost to crypto's future, reputation and adoption.

This is a good news for the Jamaican market that they are going to deal with crypto too. We do need more investors in the market now.

this is good information, the Jamaica government has a good purpose to offer crypto trading to the public, Jamaica wants to provide a life for crypto development in the future, and Jamaica can be a country that has a big influence to control the crypto market.

But, poverty rates, bad economic development, and also bad technological developments are a problem for Jamaica, and I think Jamaica takes a long time to become a country that has a large exchange.

Indeed that’s a great news. Jamaica also recognized the importance of crypto. I am really happy to see that day by day many countries and companies are adopting it and one day for sure whole world will accept it.

Recently, a lot of African nations like Zimbabwe, South Africa, Kenya has adopted cryptos not only to fight with their problems like inflation and poverty but also to make path for a new employment sector and a new trading asset. Though, Jamaica is new to the list and they have only started to list the coins on their exchange, but I am sure there is still long way to go for them now.

First of all, try to mention the source of the article before posting it or just don't post it here, as the forum doesn't comply with plagiarism. However, Jamaica stock exchange listing cryptos from December looks like a very good news for the whole crypto community. One after one african countries accepting cryptos should be taken as an example for the other parts of the world.

The Jamaica Stock Exchange (JSE) will soon be offering cryptocurrencies as tradeable assets for clients.

The company said Tuesday that it had signed a memorandum of understanding (MoU) with blockchain startup Blockstation for the creation of a new digital assets trading platform. While it is not clear which tokens will be initially listed, the platform is set to go live by the end of the year.

In interview, JSE managing director Marlene Street Forrest said that offering cryptocurrencies as investment products fits in with the equities, bonds and other investment products that the exchange already offers.

Forrest told CoinDesk:

"The end game at the end of the day is to trade tokens, the end game is smart contacts, the end game is to provide that area of the market that would like this product, to start to do so in a secure manner."

Blockstation is providing the technology, she explained, while the JSE's infrastructure will be networked to the new platform, allowing qualified investors to conduct purchases or trades.

Aside from listing cryptocurrencies for trade, Street Forrest said the stock exchange will continue to look at how blockchain technology can benefit the platform and its clients, going so far as to indicate that JSE's plans may include issuing its own cryptocurrency at some time in the future.

"The environment changes, the entire ecosystem changes, so at that point in time that might be the case, [although] at this point in time that is not a discussion," she said.

Blockstation co-founder and chief enterprise architect Jai Waterman told CoinDesk that the startup has been working with the JSE for roughly six months in order to develop a custom version of its platform for the exchange. Specific requests from the JSE have included tools to track market manipulation and other regulatory needs, he noted.

"Our mission is to provide … a secure method of trading cryptocurrencies with broker-dealers and stock exchanges," he said. "We're providing the stock exchange the technology for a broker-dealer network and repository, so that from end-to-end, their life cycle of trading – just like with securities – they can do the exact same thing with blockchain and cryptocurrencies."

The JSE is in no rush, however, and is taking its time to ensure that the launch is safe for investors, Street Forrest said.

"We have a steering committee that was designed and formulated to look at the Blockstation product, to look at the blockchain technology in general and to go through the phases to ensure that we understand what we are getting involved with and are also trained in what this entire trading of cryptocurrency involves," she explained.

As such, she said, the exchange's integration of blockchain will be "gradual."

Jamaican dollar image via Shutterstock

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