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ARTICLE · 27 MARCH 2018

Canada's Oldest Stock Exchange Enters Cryptocurrency Market

McCarthy Tétrault
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It is expected that the new cryptocurrency platform will focus initially on the two most heavily traded cryptocurrencies, bitcoin and Ether, with room to expand if clients demand more currencies or services.

CanadaTechnology
SnIP/ITs Blog
SnIP/ITs Blog
Ana Badour
Ana Badour
Heidi Gordon
Heidi Gordon
Shauvik Shah
Shauvik Shah
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TMX Group Ltd., which owns the 166 year-old Toronto Stock Exchange, announced on March 22, 2018 that it would launch a cryptocurrency platform and thereby enter the burgeoning market for virtual currencies. According to the TMX press release, Shorcan Brokers Ltd., a subsidiary of TMX, will build this first exchange-owned brokerage platform for cryptocurrency investors, compile data on cryptocurrencies and publish relevant performance benchmarks.

The new cryptocurrency platform will involve Shorcan partnering with Paycase Financial Corp., a Toronto-based cryptocurrency payment company, and one of the major domestic Canadian banks will provide payment and settlement services. The platform is to be named "Shorcan Digital Currency Network" and should be online in the second quarter of 2018.

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