TMX Group launches crypto brokerage service. Shorcan Digital Currency Network (Shorcan DCN), a subsidiary of Canadian exchange operator TMX Group, announced that it has signed an agreement with Paycase Financial to launch a crypto brokerage service and create global data products.
TMX Group cryptocurrencies will begin brokerage service in Q2 2018
TMX Group, best known as Toronto Stock Exchange (TSX) operator. Paycase Financial is a Toronto-based decentralized financial services provider. The new venture is scheduled to start in the second quarter of 2018.. This initiative will establish a cryptocurrency brokerage platform focused on Bitcoin (BTC) and Ethereum (ETH).
BMO Financial Group has agreed to provide banking services to Shorcan DCN
This With this partnership, Shorcan DCN aims to combine its expertise in financial services in Canadian markets with Paycase’s encryption data collection platform. Additionally, BMO Financial Group has agreed to provide banking services to Shorcan DCN as part of its payment and payment infrastructure.. Shorcan President Peter Conroy expressed his thoughts on the partnership:
We are excited to join this deal with Paycase, an industry leader with an innovative and entrepreneurial spirit.. We hope to implement the necessary collaborative work in the coming days as we strive to make Shorcan DCN a lasting success.
Some financial institutions in Canada are still skeptical about cryptocurrencies
TMX John Lee, Managing Director of Enterprise Innovation and Product Development at the Group, said:
Some financial institutions in Canada are still skeptical about cryptocurrencies. Last month, Toronto Dominion (TD) Bank banned customers from purchasing crypto with bank-issued credit cards. A representative of TD states that the ban is designed to protect customers “as much as the bank.”
Cointelegraph