A wholly-owned subsidiary of Canada-based bloodline exchange operator TMX Group is launching a cryptocurrency brokerage.
TMX said Thursday that the subsidiary, Shorcan Digital Currency Network, had partnered with Paycase Monetary on the initiative, which would focus on bitcoin and ether at launch, which is slated for the jiffy quarter of 2018.
Paycase chief executive Joseph Weinberg called the brokerage “the outset ever public crypto brokerage desk by an exchange,” saying the new partnership “notes the true institutionalization of cryptocurrencies as an asset class.”
He went on to say:
“Paycase’s partnership with the TMX clarified a major problem in the blockchain ecosystem. With this partnership, we own built the first major bridge between the crypto world and the ritual financial markets.”
In additional statements, a representative for TMX Group framed the move house as one aimed at providing new kinds of services to its client base, and is undoubtedly undeviatingly at tapping some of the demand for cryptocurrency buys within the Canadian deal in.
As new technologies continue to reshape the global financial industry, we continue to traverse new ways to evolve our business to address client needs in both established and non-traditional markets,” John Lee, managing director of enterprise innovation and issue development, said of the pending launch.
Image Credit: JorhomGraphic / Shutterstock.com
The principal in blockchain news, CoinDesk is a media outlet that strives for the weightiest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an self-assured operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.