In one of the most influential decisions in recent times to bridge the gap between traditional and Bitcoin markets, major US stock exchange Nasdaq announced to assist a digital currency firm with its trading technology X-Stream.
The deal will allow a rather new Bitcoin startup Noble Markets to enjoy the benefits of a multi-asset trading platform, alongside the abilities to expand their new products and market models efficiently. As the company has already announced to offer hedge funds to trade Bitcoin and similar digital currency assets, X Stream will further ensure to add scalability to these services by ensuring everything from high performance to sufficient risk management practices.
Noble CEO John Betts found this occasion as an excuse to shed some light over the investors’ uneasiness while investing in Bitcoin. The former Goldman Sachs official believes Nasdaq’s involvement to demolish those concerns. “They can say,” he said, “‘These are sophisticated organizations; they have done their due diligence, and if it’s good enough for them, it’s good enough for us.”
Nasdaq’s Executive Vice President for Market Technology further reciprocated their interests in assisting the emerging Bitcoin space, saying they would be happy to help such a cutting edge companies like Noble.
And it is indeed needed. Ever since its inception, Bitcoin has been noted as a highly risky trading instrument, especially after being involved in image-tarnishing scams like Mt. Gox and the very recent MyCoin. The cryptocurrency was further getting criticism for constantly railing downwards since it hit the peak of $1,100 back in 2013.
By forming a strategic partnership with Nasdaq, a Bitcoin company like Noble Markets will at least address the concerns related to risks as the services will be highly regulated and insured by every perspective. Moreover, investors will finally be able to make more logical and well-calculated moves while trading on X-Stream, a platform that is accessed by over 30 global marketplaces already.
Bitcoin to the troposphere, if not moon.