TMX Group, has declared that they are introducing a digital currency brokerage outlet. TMX Group is the facilitator of Toronto Stock Exchange which will offer the privileges through a substitute of Shorcan Digital Currency Network and the company will be dealing with bitcoin and ethereum.
Trading Bitcoin and Ethereum:
The TMX Group is letting the customers have the choice of conducting the trade in Bitcoin and Ethereum. This will come to a finality through the introduction of Shorcan Digital Currency Network Subsidiary.
The company has also said that the services will come to terms through the partnership with Paycase Financial Corp. This startup provides the benefits of a decentralized service and a mobile-based functionality.
“As the first ever public crypto brokerage desk by an exchange, this deal represents the true institutionalization of cryptocurrencies as an asset class”, said the Chief Executive Officer of Paycase , Mr Joseph Weiner, who then described the event as “the first major bridge between the crypto world and the traditional financial markets”.
TMX has informed, that the brokerage service shall enhance the digitalization concept. Mr John Lee, the Director of Enterprise Innovation & Product Development, said that they are looking for advanced ways of meeting the needs of their customers.
“We are excited to enter into this agreement with Paycase, an industry leader with an innovative and entrepreneurial spirit”, stated the officials at TMX press release.
Toronto Stock Exchange facilitator introduces Cryptocurrency Brokerage
Toronto Stock Exchange Operator, TMX Group, works in dealing with Cash and it’s derivatives. They also clears the asset needs with the help of their subsidiaries. The company also heads the Montréal Exchange, the Canadian Depository for Securities and the Canadian Derivatives Clearing Corporation. This group of companies helps in providing listing markets, facilities pertaining to trade, clearing markets and a number of financial services.