One of the largest stock exchanges in the US, NASDAQ has thrown in the towel and is set to enter the digital money markets. According to the high profile outfit CEO, Adena Friedman, plans are underway to develop a cryptocurrency exchange in the very near future. Although she did not give timelines, this could change the entire crypto- sphere for the better.
With investor confidence on the low, it will be interesting to observe how this high profile and respected US stock exchange will scale up. This is expected to spur the currently sleeping market and push the regulation agenda to the next level. With most currencies trading in the red, NASDAQ could be the boost the market needs.
NASDAQ Partnership with Gemini
The NASDAQ partnership with Gemini appears to be a game changer in the industry. This forms a salient meeting point between the digital currency and fiat technologies and it could be a win-win situation for the two outfits. According to observers, the partnership has been long overdue and it is a healthy move in the financial and banking sectors.
Gemini is the first cryptocurrency exchange in the US to be fully licensed. The goal of the partnership is to enable Gemini use NASDAQ technologies and tools in monitoring real time exchange activities and enhancing security. Gemini is the brainchild of the Winklevoss brothers Cameron and Tyler.
After Adena Friedmans’ announcement, three major cryptocurrencies were singled out as the first to be backed by NASDAQ. These according to the CEO are the best bets at the moment and more will be added in the future. Here are the three cryptocurrencies to onboard the prestigious stock exchange platform.
Expected Cryptocurrencies to be listed on NASDAQ Exchange
NASDAQ has singled out three major cryptocurrencies that are a must list on their anticipated platform. These include Litecoin (LTC), Stellar (XLM) and Bitcoin (BTC). These should offer the traders a good mix of pairs to choose from.
The other NASDAQ natural choice is Litecoin (LTC). This will be a major boost for this stable coin and will drive its agenda of being the world’s leader in the decentralized App in blockchain technology. The solid Litecoin growth and potential has given the stock exchange enough confidence.
Litecoin is a secure platform and has a very vibrant community and the LitePay technology will benefit from NASDAQ tools that are essential for live trade monitoring. With wealth of partnerships outside the digital money markets, the coin will boost NASDAQ adoption to position itself as a global brand.
Stellar (XLM) has been doing very well lately and NASDAQ’s best bet. This is a coin with high potential and has been the natural choice for many investors in the corporate world. With recent events around the coin and getting listed on Hong Kong OKEx exchange are some areas the exchange has put into consideration.
The Stellar-IBM partnership is also a plus for the cryptocurrency. This collaboration has made Stellar the best outfit for cross-border money transfer and a platform that any market players of the future should take advantage of. Ease of digital currency cross-border trading is every digital coin’s dream and this is the kind of platform NASDAQ is after according to the CEO.
Bitcoin (BTC) has made the list of the top three NASDAQ choices based on its potential for growth. The decision however was arrived at after the New York Consensus Conference which critics felt did not yield the anticipated results. However, Bitcoin is global brand that NASDAQ feels will be major boost for its growth.
Bitcoin is the largest coin by market capitalization and is the best bet for any investor across the globe. On the other hand, the coin has substantial following and is listed in virtually all exchanges. This global appeal is the nest route to market for NASDAQ exchange.
With the sudden interest in the digital money market, NASDAQ is set to change the perception of cryptocurrencies. This is a respected stock exchange and will lead to more trust in digital coin and ease of trading in fiat and crypto pairs in the future.