The NASDAQ believes in the future of cryptocurrency.
Therefore, the exchange is now considering plans to offer cryptocurrency security tokens.
Furthermore, the plan is to build a cryptocurrency-enabled platform for companies to launch their security tokens. Additionally, the NASDAQ is reportedly in talks with Symbiont, an institutional blockchain-based solution focusing on startups.
NASDAQ Has Always Had Interest in Cryptocurrency
Moreover, the index may also hand institutional investors analytical tools for trading hundreds of crypto assets. According to Coin Desk, the “exchange is preparing to add tools for predicting the price movements of crypto assets to its Analytics Hub.”
That follows other big news from NASDAQ
In May 2018, NASDAQ CEO Adena Friedman noted that the exchange was investigating the idea of crypto futures. However, before doing so, she wants to ensure that the correct protocols are in place.
Additionally, in April 2018, the CEO said the NASDAQ was open to becoming a crypto exchange. “Certainly, NASDAQ would consider becoming a crypto exchange over time. If we do look at it and say ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors,” she says.
Other Great News for Cryptocurrency
The new company expects to work with organizations, such as BCG, Microsoft, Starbucks and others to create an integrated platform to ease the trading, storing, and spending of digital assets. Meanwhile, it could also boost digital assets like Bitcoin, as it eases volatility.
Therefore, as the project matures, there’s hope to create a “scalable on-ramp for institutional, merchant, and consumer participation.”
“This is huge news… This will have a very profound impact over the next five or ten years for the markets, and to my mind that’s what people should be focused on,” notes the Pantera CEO.
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