NASDAQ Cryptocurrencies by Next Year? Gemini Could Bring The Technology
The world’s second biggest exchange by market capitalization NASDAQ, is about to list trading of cryptocurrencies.
While the Cboe and CME listed cryptocurrency-based financial products in the form of Bitcoin futures. The NASDAQ will, according to sources close to the action, list actual cryptocurrency.
If NASDAQ goes through with the listing, it will put the exchange at the forefront of institutional crypto money flowing . Also they will set a precedent for the United States’ Securities & Exchange Commission (SEC) in greenlighting more ETF (Electronically Traded Funds). The regulator’s principal reason for rejecting license applications is that there is no federally operated exchange that lists Bitcoin or any other cryptocurrency until todays date.
ICOJournal, suggested that NASDAQ will be moving quickly and work closely with regulators.
The conversation around listing coins has centered on how they will be classified from a regulatory standpoint.
NASDAQ has to made no announcement of it’s intentions to list cryptocurrencies. However the exchange has been reported to be doing research on cryptocurrencies.
Sources from Gemini have suggested an increasingly close relationship between the two firms. One source stating that Gemini’s reason for essentially doubling their staff by year end is “their work with NASDAQ”. They are looking to find an architecture solution. So they can be “the first to list actual tokens”. Gemini could possibly provide the technology to make the listing possible.
If there is any truth to the rumoured listing, it would put NASDAQ head-to-head against ICE’s Bakkt collaboration to be the first to offer institutionally regulated cryptocurrency trading internationally.
Let us know in the comments below If you think that Gemini could gather the technology that NASDAQ needs. What is going to change in “Crypto World”?