Canadian financial service provider TMX Group will establish cryptocurrency brokerage services through its subsidiary company Shorcan DCN in a partnership with Paycase Financial focusing on Bitcoin and Ether to develop proprietary benchmarking.
Research, Data and Benchmarking
Volatility has been a continual issue for cryptocurrencies. The concept is both present, sometimes exaggerated, but also inevitable in the young, speculative market. Shorcan DCN will utilize the data aggregation platform created by Paycase to delve deeper into the space and establish benchmarking.
This process works to normalize the market with the same professional standards that investors are use to elsewhere. Support like this will bolster the sturdy backbone of bullish sentiment that underlies the push for Bitcoin over the years.
“We are excited to enter in to this agreement with Paycase, an industry leader with an innovative and entrepreneurial spirit,” said Peter Conroy, President, Shorcan. “We look forward to putting in the necessary collaborative work in the days ahead as we strive to make Shorcan DCN a lasting success.”
The goal for Paycase is to “merge traditional and crypto finance, providing infrastructure and liquidity to global financial markets.”
- Value network
- Trustware provider
- Decentralized financial services
- Mobile-first remittance platform
- FINTRAC-registered MSB since 2015
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), is the Financial Intelligence unit of the country. They designate, research and cooperate with money service businesses (MSBs), to maintain a fair, efficient and profitable economic ecosystem.
Founded only nine years ago. They operate the Toronto Stock Exchange, Montreal Exchange, the Boston Options Exchange, as well as a number of other Canadian financial service establishments. Overall, the group has quickly grown, gained reputation and now works to make sure they have the a position to keep growing into the future of finance.
Managing Director, Enterprise Innovation & Product Development, TMX Group: “Shorcan DCN represents a significant step forward in the execution of TMX Group’s digital strategy. 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.”