NEW YORK CITY, NY – TMX Group, a stock exchange operator based in Canada, has recently announced a major news concerning Shorcan DCN. Shorcan DCN, a subsidiary of the TMX Group, recently got together with Paycase Financial to agree on launching a brokerage service centered on cryptocurrency. This news was released at a press con on the 22nd of March.
TMX Group operates the Toronto Stock Exchange, while Paycase Financial is mainly known for its provided financial service in Toronto. This endeavor between the two Canadian-based operations will potentially be launched around the later end of the first half of 2018. The brokerage service will be centered around cryptocurrency, more specifically on Ethereum and Bitcoin. This project could prove to increase usage and quality of life for crypto users in Canada alone.
This partnership between Paycase Financial and Shorcan DCN intends to combine the proficiency of both services. Shorcan DCN has an expert grasp on lending its financial services specifically in Canadian markets, while Paycase Financial can handle the platform for cryptocurrency data aggregation. Furthermore, BMO Financial Group has been added to the mix by lending its banking services to Shorcan DCN. BMO Financial Group does this to complete the payment and settlement foundation.
The president of Shorcan DCN, Peter Conroy, shared his excitement for this agreement to the press. Conroy went on to praise Paycase Financial by regarding it as an “industry leader” with the spirit built for entrepreneurial and innovative work. This goes to show how confident Conroy is with Paycase Financial as the partner for this brokerage service project.
TMX’s managing director of Product Development and Enterprise Innovation, John Lee, shared his viewpoint and vision on the continuing change and advancement of technologies. Lee sees the continuing development of the global financial industry as an opportunity to adapt their business with it in order to continually cater to client’s needs in any market.
However, not everyone in Canada shares the same vision as Lee. Toronto-Dominion Bank recently outlawed the purchasing of crypto with credit cards issued by them. This was done to protect clients and the bank, according to a representative from TD.