Jamaica Stock Exchange and Blockstation Sign Historic Agreement Bringing Regulated Digital Asset Trading to Investors
|Areas||Corporate and Commercial, Technology|
Goodmans LLP, led by Richard Corley, represented Blockstation in the development of a historic Master Agreement with the Jamaica Stock Exchange (JSE). The Jamaica Stock Exchange is now one of the first stock exchanges in the world to sign an agreement to enable live trading of digital assets and security tokens in a regulated and secured environment.
The JSE and Blockstation completed the Master Agreement following a successful live-trading pilot, which included participation from the JSE’s broker-dealer members and the Jamaica Central Securities Depository (JCSD).
The JSE plans to leverage the new agreement with Blockstation to:
- Support international Small and Medium Enterprises (SMEs) by providing them with a streamlined and simple process for raising capital in a compliant and transparent manner through security token offerings (STOs).
- Demonstrate market leadership by showing the financial community that digital assets and cryptocurrencies can be traded safely through trusted broker members like any other security, in full compliance with regulations.
- Create an inclusive, regulated market that is more accessible to institutions, as well as non-accredited investors who would otherwise be excluded from lucrative opportunities in the digital asset space.
- Streamline the public disclosure process for SMEs, making it easier and more cost effective to list shares and other assets.
A limited pilot to trade bitcoin (BTC) and ether (ETH) through the JSE and participating broker-dealers will be launched soon.