Toronto Stock Exchange Operator Launches Crypto Brokerage

TMX Group, the operator of the Toronto Stock Exchange, has announced it’s launching a cryptocurrency brokerage platform. The service will be offered through its Shorcan Digital Currency Network subsidiary and focused on bitcoin and ethereum. The project will be implemented in partnership with the local fintech startup Paycase Financial Corp.

Trading Bitcoin and Ethereum

The owner of the Toronto Stock Exchange, TMX Group Ltd., will offer its customers the opportunity to buy and sell two of the most popular cryptocurrencies – bitcoin and ethereum. That will be accomplished through the launch of its Shorcan Digital Currency Network subsidiary. Support will expand if clients demand additional cryptocurrencies.

The TSE owner also announced the brokerage service would be made available through partnership with Paycase Financial Corp. The Toronto-based fintech startup specializes in decentralized financial services and operates a mobile-based remittance platform.

“As the first ever public crypto brokerage desk by an exchange, this deal represents the true institutionalization of cryptocurrencies as an asset class,” said Paycase CEO Joseph Weinberg. He went on to describe the project as building “the first major bridge between the crypto world and the traditional financial markets”.

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

Read Full: Toronto Stock Exchange Operator Launches Crypto Brokerage