Huntun Financial has learned from many reliable sources on Wall Street in the United States that Nasdaq is still not thinking about becoming digital currency exchange, but it is certain that it will soon become the first global stock exchange to expand its digital asset business. The point is planned for October 2018.
Nasdaq may enter the cryptocurrency trade and shake the global digital asset market.
Bitcoin rebounded sharply on Friday, rising as far as $9300 from current of $8,780. Nasdaq will be the world’s second-largest stock exchange with a 47-year development.
“There is no doubt that Nasdaq will consider becoming a digital cryptocurrency exchange in the future.”
April 25, United States local time, Nasdaq CEO Adena Friedman said on CNBC ebook. On the same day, Nasdaq and the cryptocurrency exchange Gemini announced a technical cooperation want. The latter will use Nasdaq’s SMARTS market surveillance technology to monitor all digital asset transactions such as Bitcoin/ U.S. Dollar , Ethereum / Oughout.S. Dollar, and Bitcoin/Ether. This cooperation will help Nasdaq break through the utilization of regulatory technology in digital currency forex.
On April 27, Blockchain’s pioneering portal, Flying Cloud Finance, was informed by multiple reliable sources on Wall Street in america that NASDAQ is not still taking into account of becoming an electronic digital currency exchange but that certainty is about to become the first one. The global mainstream stock exchanges that expand digital asset transactions is scheduled get started in October 2018. If everything goes smoothly, Nasdaq will formally roll out digital fx products inside five quarters. Jiyun Finance was informed that at present, Nasdaq has completed more than one preparatory work, and the relevant system architecture is being systematically started.
A senior industry personage told this cloud cloud economy, Nasdaq this major trend will lead to your recent global investment funds began circulation to the United States, the U . s . will developed into a true digital currency to dominate the marketplace.
Cryptocurrency Market: Elephants Come
Is Nasdaq really ready for the tide of digital assets?
Senior figures in the field of blockchain and digital assets, chairman of the Hong Kong-listed company ViewSonic Energy, and Zhang Li, founding partner of the Shenzhen Blockchain Venture Capital Fund, told Huntercloud that the Nasdaq is extremely likely enter in digital sources. Because Nasdaq represents the high-tech sector of the usa securities market, its acceptance of new technology trends is very high, and also it is possible to transform and increase blockchains and digital asset-related transaction blocks and regions.
“They’ll be very fast. Americans generally don’t talk about doing it first, but they do it first or do it.”
With regard to the possibility of accepting admission, the sector expects an increased degree of agreement.
The digital currency trading platform CoinTiger CEO Frank Ling stated to Huntercloud that is undoubtedly a high possibility that Nasdaq will enter the sport. The Chicago Mercantile Exchange, which has a large market position, has advanced to the field and obtained comparison through Bitcoin futures trading. Special currency pricing power has laid the pioneer step in the deployment associated with a large quantity of financial groups. Existing stock exchanges will compete in an effort to meet anyone’s configuration does need.
However, Nasdaq still faces many obstacles in starting digital currency transactions as well as will require time to face them.
Ling Fengqi said to Huntercloud that Nasdaq still needs to unravel several problems: If ought to a breakthrough at the legislative level, how can the current digital currency be as a part of the supervision of regulations? How does BTC and numerous ERC20 Tokens treat differently? How to manage a great number of emerging Tokens? As to what way superior ? introduced to Nasdaq? Happen to be still many blank areas at the legislative and regulatory points. In addition, there can be a need for extra rigorous supervision at the project quantity. For example, is it compulsory to oblige all projects to comply with the Reg A (United States Crowdfunding Act), and the way to introduce projects outside the united states?
“In fact, the US market has already recognized the value of digital currency, but the US Congress hearing is still debating whether Bitcoin should be included in commodity supervision or securities supervision,” said Ling Fengqi.
Exchange pattern or reshuffle
Nasdaq’s digital asset transactions in industry are generally interpreted by the industry as positive.
Subsequently, this could be illustrated how the global consensus on cryptocurrencies and digital assets may be strengthened and agglomerated. Digital assets will gradually be recognized and protected in various countries. At the same point in time, the addition of traditional mainstream financial trading market systems can lead to stronger regulatory compliance and stable trading environment.
Zhang Li told Huntercloud that NASDAQ’s on-line digital asset transactions will have a very good bias style. If developed countries such just like the United States decide to add in digital asset transactions into the mainstream market, they must do so inside legal and market portions. A very adequate preparation to take part in the tide of digital assets.
“If the U.S. policy trend is followed, more countries will open digital asset trading licenses, which will have a positive impact on the global digital asset market.”
A chairman of a digital asset exchange overseas told Huntyuncao whenever the Us can establish standards and standards in customer KYC certification, exchange operations management and risk management systems, many countries will use the US standard as a reference. Regulate and manage the digital currency market. Such a statement would perceived as positive signal and the existing Digital Asset Exchange will apply for a license additional countries and regions.
So the obvious question is, Will Nasdaq’s entry into the have a fatal impact on existing digital currency exchanges?
In this regard, Lingfeng Qi told Huntercloud basically as the Chicago Mercantile Exchange received Bitcoin pricing rights, if Nasdaq enters the market, it could have a significant impact near the market, but it will not affect the present digital currency exchanges. Too large does not constitute significant competition. Because traditional business ideas do not solve the actual issue of digital asset trading, existing players have grown rapidly. In addition, really are millions genetic problems, and watching stock trading and digital currency trading look similar to it. In fact, there is not a category in the bones. Just like banks are going to play securities trading, there is almost no good play. Not have money to play. Well, the key is whether the interest structure can support the platform to do this.
On the technical level, Nasdaq also some concerns that need always be solved. Ling Fengqi believes that digital trading platform trades encrypted virtual goods, and rates are independent and can be freely filled. This is different from the technical framework of securities trading. A few obvious methods no issues with the investments. All of them are concentrated, mainly registration and settlement. You need to a liquidity impact problem when actual delivery and withdrawal of products.
“Nasdaq needs to be a warehouse for the delivery of goods. It is necessary to rebuild the entire trading system. It was originally used as a voucher for trading. Now it is necessary to do digital goods transactions and cash transactions. It is actually quite complicated. The existing digital currency transactions are therefore currency transactions and currency. Currency trading is the main method, and the currency transactions are mainly on a few single currency pairs, provided that the exchanges have enough value to be prepared. The depth of the spot market determines whether a trading platform can expand,” he said.
Ling Fengqi believes how the Nasdaq’s entry in the crypto house has rather a lot of symbolic and motivational effects for the industry, nevertheless still requires lot of preparation and can exit the market with sufficient time. Today, the exchange’s competition is generally more than liquidity, trading mechanism, mutual trust with large-value traders, so on and so forth.
“The future stock market and digital assets fair will be deeply integrated. Essentially, the stock market and digital asset market are similar to the relationship between domestic stock A and B shares. Equity is more about control, and Token is more about using it in the future. Rights and income rights. Stock rights will also be expressed in the Token way,” Ling Fengqi said to China.
In any case, the emergence within the world’s leading stock exchanges, with regarding accumulated credit, systems, and customer-dependent reliance, will surely set off an uproar in the international digital asset exchange area.
The possibility of reshaping the exchange pattern is very big, almost enough to bring about a paradigm shift. Whether it is old or new conflicts, strong or weak competition, what happens next that remains to be unraveled in the near future, that for sure!