There are some great news that yesterday had came out of the New York Stock Exchange, about their parent company Intercontinental Exchange Inc., planing to let their customers trade Bitcoin reported by New York Times.
They have been working on a new trading platform that would allow the stock investors to buy, sell and hold Bitcoins.
These news about the virtual exchange come right after one of the biggest banks in Wall Street Goldman Sachs has announced earlier this month that they are planing to open their own trading unit for cryptocurrencies or at least for starters trades with Bitcoin.
New York Stock Exchange competitors like Cboe Global Markets and CME Group have started their own journey into the crypto world with the offering of a Bitcoin futures.
In an interview last month the stock exchange parent company Intercontinental Exchange Inc.’s Chief Executive officer Jeffrey Sprecher had ruled out the offering of a digital currencies based contracts stating:
“ There is a trend here we can’t ignore in my mind, so I don’t discount it.”
But despite this statement, moves like these that promote acceptance of cryptocurrencies by big banks and stock exchanges, gives more credibility to the whole crypto field and will bring forth a faster adoption through out the world.
Many details of the new platform that the New York Stock Exchange is working on are still in a starting phase and are far from a final version, meaning there is a possibility for them to not see the light of the day, but that still remains to be seen.
They are also talking with some of the top banks in order to set up a tool for the banks to buy contracts known as swaps that will enable their customers to actually own Bitcoins the very next day with the help of all of the benefits that an exchange can deliver.
Regulators are investigating if many of the top virtual currencies like Ethereum have been violated any of the securities regulations. The experts believe that the technology behind Bitcoin that had been created and structured in a decentralized manner with many computers around the world backing the network, will be the safest bet in investing when combined with good regulations.
LedgerX is the only exchange that now offers the kinds of swaps that NYSE has planned to implement. And as LedgerX’s founder has put it in its own words:
“ The industry is seeing unprecedented institutional interest for the first time in Bitcoin’s history. I’ve been amazed that the strongest believers in cryptocurrency often start out the most skeptical. It’s a healthy skepticism. But at some point the perception shifts, and for many institutions – I think we’re finally there.”