Parent company of New York Stock Exchange is building Bitcoin platform

The owner of the New York Stock Exchange (NYSE) is reportedly considering building a Bitcoin trading platform, The New York Times reported on Monday, May 7, citing “emails and documents” as well as four anonymous sources confirming the rumor. According to the news outlet, the ICE’s crypto platform would “allow large investors to buy and hold bitcoin.”

Judging by the report, Intercontinental Exchange, the parent company of the New York Stock Exchange, is obviously poised to dive into the nascent market of digital coins. It would become the first established equities exchange operator to launch such a venue in the US.

The new platform by ICE would come under the regulation of the US Commodity Futures Trading Commission, enabling it to operate under existing laws, the report says. It is largely due to regulatory hurdles that major financial institutions have avoided investing too much into the industry. However, this may be changing as recent events show.

The news about ICE comes days after NYT reported Goldman Sachs would start offering Bitcoin futures “within weeks.” And in some other recent news, NASDAQ announced it would be “open” to establishing a cryptocurrency trading platform in the future. Also, Nasdaq’s CEO Adena Friedman said the firm could one day launch a crypto exchange.

Details of the platform that ICE is working on have not been worked out yet and the project could still die away. Yet, such news would not have been likely just 10 years ago, which shows the cryptocurrency industry has come a long way.

If ICE is able to follow through on their plans, we could see Bitcoin driven into the mainstream in the not so distant future. But Bitcoin is likely going to be only the first crypto entrant: As the exchange proves its concept, other altcoins could be added and other stock exchanges may follow the ICE’s footsteps – all paving the path for cryptocurrencies to wider adoption.

Related News

Nucypher aiming to be the TLS/SSL of the decentralized Internet

Today, one of the largest issues in data sharing is its security.
Legacy Key Management Systems (KMS) developed by large corporations aren’t perfect in

Read-more

QuarkChain is building a platform with 1 million financial transactions per second

Financial transacting online continues to grow, year after year, and this gave rise to a big number of startups proposing more and

Read-more

Flying around the world with aBitSky for Bitcoins

While bitcoin is still making its way into most retailers and merchants’ offerings, a number of travel and booking sites have made it one of their payment options quite a while ago.

Read-more

Ambit building another mining facility, pre-sale started April 10

Since recent we are seeing a shift from conventional hardware-based to cloud-based mining due to the high effectiveness and lower electricity

Read-more