NYSE TO OPEN CRYPTO EXCHANGE

Bitcoin - Making a Million
Bitcoin – Making a Million

 

NYSE Isn’t Planning a Bitcoin Futures Market, But a Proper Crypto Exchange

NYSE to open CryptoCurrency Trading Platform !!!!!

According to a report by the New York Times, the world’s biggest stock exchange New York Stock Exchange (NYSE) is planning to operate a proper cryptocurrency trading platform.

Leaving the NASDAQ, and the others behind very recently CCN reported that Goldman Sachs is entering the bitcoin market by launching a futures market targeted at investors in the traditional finance sector and stock market. At the time, a top Goldman Sachs executive stated that despite the personal lack of confidence by the bank’s executives, Goldman Sachs had decided to operate a bitcoin trading desk to facilitate growing demand from its clients and investors.

Recently the New York Times reported that several emails and documents they reviewed showed that the NYSE had also been developing an online bitcoin trading platform.

“The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential,” the New York Times reported.

Just weeks ago, the chief executive of NASDAQ, the world’s second-largest stock exchange after the NYSE, revealed that the exchange would be open to trading cryptocurrencies in a regulated environment.

NASDAQ has also hinted at becoming a crypto brokerage, in a regulated space.
Goldman Sachs, CME, CBOE, and other major financial institutions that either already have integrated bitcoin or are planning to serve the bitcoin market in the future are operating or developing a futures market based on bitcoin, but are not directly dealing with bitcoin. Essentially, Goldman Sachs will allow its clients to hold contracts that mimic the value of bitcoin but they will not be able to own bitcoin or the actual currency.

NYSE and its parent company is currently developing a proper bitcoin exchange on which investors can buy and sell the dominant cryptocurrency directly, without the involvement of futures, derivatives, and other types of contracts. NYSE clients and investors will be able to directly buy, sell, and hold bitcoin, possibly in a wallet, similar to Coinbase or other existing cryptocurrency platforms.

Coinbase Custody, Bithumb’s offline exchange, and other services of major cryptocurrency exchanges already allow large-scale institutional and retail investors to invest in cryptocurrencies like bitcoin directly, in large sums. Coinbase Custody for instance only accepts bids larger than $15 million. Hence, investors will not necessarily gain any advantage or merit over other exchanges by using the bitcoin exchange of NYSE.

But, the launch of the NYSE bitcoin exchange is monumental and symbolic, as it demonstrates that even the largest stock market in the world which settles trillions of dollars on a regular basis can no longer dismiss the cryptocurrency market, which is growing at an exponential rate.

Unprecedented Demand

The banking industry is still fairly skeptical, however now we are seeing large institutional investment in Bitcoin like we have never seen before.  This is a sign that cryptocurrency is on its way to worldwide acceptance.  It is just a matter of time.
 

THIS IS A PARADIGM SHIFT !!!!

 

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