Toronto Stock Exchange Launches Crypto Brokerage

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Toronto Stock Exchange Launches Crypto Brokerage

The operator of the Toronto Stock Exchange TMX Group has announced it’s launching a cryptocurrency brokerage platform. The service will be offered by subsidiary network and focused on bitcoin and ethereum. The project will be implemented cooperating with local startup called Paycase Financial Corp.

Also the TSE owner announced the brokerage service would be made available through partnership with Paycase Financial Corp. The company is generally specialized in decentralized financial services and operates a mobile-based remittance platform.

The Paycase CEO Joseph Weinberg pointed:

“As the first ever public crypto brokerage desk by an exchange, this deal represents the true institutionalization of cryptocurrencies as an asset class. The first major bridge between the crypto world and the traditional financial markets”.

The brokerage is a significant step in the execution of its digital strategy. The Managing Director of Enterprise Innovation & Product Development John Lee thinks the company is looking for new ways to address the needs of its clients in both traditional and non-traditional markets.

The Canadian Stock Exchange announced in February about its plans to launch a blockchain platform for clearing sales of tokens qualified as securities. The digital currencies were referred to as securities in its listings. CSE presented companies the opportunity to issue traditional shares and debt securities as “security token offerings”, to sell them to investors.

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