Renowned Stock Exchange, Nasdaq to Launch Bitcoin Futures Soon
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Renowned Stock Exchange, Nasdaq to Launch Bitcoin Futures Soon

January 28, 2020      Ibiam Wayas

Nasdaq, the United States technology stock exchange could be joining the likes of Chicago Mercantile Exchange (CME), an exchange for the trading of futures and options, to launch Bitcoin futures.

The news follows a statement made by the CEO of Nasdaq, Adena Friedman, on behalf of the company during the World Economic Forum (WEF) held in Davos, Switzerland.

As recently reported, the World Economic Forum Annual Meeting 2020, which was concluded last week, saw at least 3,000 global leaders from different Industry, discussing the future and governance of cryptocurrencies.

So at the meeting, she disclosed that the organization (Nasdaq) is considering to venture into Bitcoin futures business. Friedman said the stock exchange teamed with an anonymous business partner in order to develop it.

Speaking on the development, she added that Bitcoin futures are pragmatic instruments, which is why they had to reach an unnamed partner to help them get started in the Bitcoin Futures business.

While many experts and Industries have countering views about cryptocurrencies, Friedman doesn’t think digital currencies are bad. She argued that it already has a significant impact on the global economy, and could change the society, per the report. 

Nasdaq Perceive Cryptocurrency Dominance

Already, Nasdaq is somewhat engaged in the digital currencies market. The renowned stock exchange pioneered an industry-related business by introducing a ‘euro-denominated Bitcoin exchange-traded note (ETN).’ 

It was reportedly launched on Nasdaq Nordic in October 2015. Also, the Nasdaq Nordic trades an Ethereum ETN. Still, on its interest in crypto space, the exchange-listed an index for blockchain projects in decentralized finance (DeFi). The project featured Amoveo, Augur, Maker, and 0x.

In no doubt, the moves by stock marketplaces, including CME which already introduced Bitcoin Futures that are settled in cash, somewhat indicate that digital currencies have grown to their dominance stage, and have a significant cut in the global economy.

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#Bitcoin Furures #Crypto derivatives #Crypto News #Nasdaq #Stock Exchange
Ibiam Wayas
Ibiam Wayas

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.