TMX Group, which is the operator of the Canadian stock exchange, announced that Shorcan DNC, its subsidiary, has signed an agreement with Paycase Financial. This deal will see a crypto brokerage service being launched in Canada.
What Is Paycase?
TMX Group is most famous for being the operator of the Toronto Stock exchange. Paycase Financial is a decentralized financial services provider that is based in Toronto. This new initiative is expected to launch in the Q2 of 2018. It will lead to the establishment of a crypto brokerage with an initial focus on ETH and BTC.
Details Of The Agreement
With the partnership, Shorcan DCN will combine its expertise in financial services in Canada with the cryptocoin data-aggregation platform by Paycase. Besides that, BMO Financial Group has agreed to provide Shorcan DCN with the banking services they need.
The President of Shorcan said that he was excited about the partnership with Paycase. He praised the entrepreneurial and innovative spirit of the company. He said that he was looking forward to putting in place the working needed to make this partnership succeed.
The MD of TMX Group also had something to say about this partnership. He said that the company would continue exploring how to utilize new technology as it continued to evolve and affect the world.
However, not all financial institutions in Canada are so optimistic about crypto. Just a month ago, the Toronto Dominion Bank barred its customers from purchasing crypto using their credit cards. A representative for the bank said that the measures were designed to protect both the bank and their customers.
Paycase Decentralized Financial Services & Crypto Brokerage
Most of the traditional financial system is wary of crypto. The rate at which the blockchain industry is developing and the lack of regulation has led to fear in the world of finance. This fear has sometimes led to complete rejection of crypto. However, some of these actions may actually be hurting the institutions themselves.
Paycase Financial has earned itself a good reputation in the world of decentralized financial services. It is a FINTRAC or registered money service business that has been operating since 2015. The company is paving the way for the traditional world of finance to integrate with the blockchain ecosystem.
This company has a simple goal of bridging the fiat and crypto markets. They are a trusted and legally compliant gateway that helps businesses understand and invest in crypto. They foster positive relationships with major companies and regulators in both of these markets to ensure compliance and trust.
Paycase believes in crypto with a conscience. The company was created with the aim of solving real-world issues using the blockchain. The founders of this company believe in the ideals of the blockchain. These ideals include technological innovation and empowering everyone to be part of the global economy. They have a belief that decentralization will offer a solution for many of the issues society faces today. According to Paycase, the blockchain has the potential to improve the well-being of many people globally.