TMX Group, the owners of the Toronto Stock Exchange, is planning to begin a cryptocurrency brokerage service.
The TMX Group is the owners of the Toronto Stock Exchange, Montreal Exchange, and the Boston Options Exchange, which account for three trillion dollars in market capitalization, and 92 billion in monthly trading volume, bringing TMX Group in the ninth position among the largest stock exchanges.
On March 23, the TMX Group announced the launching of a cryptocurrency brokerage service, centers on Bitcoin and Ether. They are going to collaborate with Paycase, a Toronto-based firm that specializes in decentralized financial services.
Through this, huge institutional investors will be permitted to purchase Bitcoin and Ether, among other cryptocurrencies.
This move is a great sign of adoption, attracting institutional investors and showing how mainstream cryptocurrencies have become.
The press release read:
“As new technologies continue to reshape the global financial industry, we continue to explore new ways to evolve our business to address client needs in both traditional and non-traditional markets.”
They also believe in the power of cryptocurrencies to reshape the global financial industry. They stated: “We will evolve their business to address client needs.” This quote proves that a huge demand for purchasing cryptocurrencies would have been presented in their institutions.