Nasdaq’s Technology Will Power A New Crypto Exchange

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Nasdaq is world’s largest stock exchange by market capitalisation, second only to the New York Stock Exchange (NYSE). And now – it is providing technology to power a new cryptocurrency exchange.

DX, a first crypto exchange ever to use Nasdaq’s technology, is launching next month. DX’s CEO Daniel Skowronski called the exchange a “one-stop-shop” for “exchanging fiat and crypto, holding coins and as well as wallet services.”.

At first, trading will be available with top six cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). The exchange won’t be charging any fees for trading. According to Skowronski, the plans are to add further 20-25 coins and also “smaller tokens,”. He did not go into details as to which coins or tokens they may be.

“We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed.”

DX won’t be available for US users at launch, but is looking into options and is “in a dialogue” with the regulators.

Yes, it’s happening

Earlier this year, in April, Nasdaq’s CEO Adena Friedman said that “Nasdaq would consider becoming a crypto exchange over time”. The main reason for the delay is lack of proper regulations.

Also – the NYSE recently announced that it will allow its clients to buy and hold Bitcoin.

 

What do you think about the Wall Street going crypto? Let us know in the comments below!

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