Jamaica Stock Exchange to list security tokens after striking deal with Blockstation

The Jamaica Stock Exchange (JSE) is looking at the possibility of making security tokens tradable on their platform, according to a press release.

Canadian blockchain start-up Blockstation has teamed up with the JSE to launch a “live digital currency trading terminal,” which is being tested over a 60-day period.

Marlene Street Forrest, the JSE’s managing director, revealed that the trials have been promising thus far, admitting that the exchange is “quite happy” with the results.

She added: “We are looking forward to moving to the next stage of the pilot which would eventually include the listing of security tokens.”

Market makers, brokers/dealers, and the Jamaica Central Securities Depository (JCSD) all participated in the trial, with the ultimate goal being to “demonstrate the complete lifecycle of the digital asset ecosystem.”

This isn’t the first time the JSE has looked to make inroads into the cryptocurrency space. They also had a deal in place with Veritaseum CEO Reggie Middleton, who had hoped to bring asset-backed tokens to the exchange.

Both companies signed a memorandum of understanding (MOU), as per this image posted by Veritaseum on Facebook, but unfortunately plans didn’t come to fruition.

The emergence of security token offerings, which look to be replacing ICOs, was a key talking point in 2018.

This year has been labelled “the year of regulation” by many in the space, and regulated security token offerings will help legitimise cryptocurrencies and the digital asset class, meaning that this move from the JSE will undoubtedly be seen as a positive step.

For more news, guides, and analysis, click here.