Nasdaq, the world’s second largest stock exchange, has launched Bitcoin (BLX) and Ethereum (ELX) Liquid Indexes onto its platform, with the Ripple Liquid Index (RLX) in its final stages of development.
This comes after the long awaited partnership between Nasdaq and Brave New Coin (BNC), one of the developers of the BLX and ELX indices.
The listing of these indices on Nasdaq’ s platform is a huge development for the crypto world and means that they essentially have the nod of approval from Wall Street.
Their aim is to provide a stable, accurate spot price for the crypto currencies.
Brave New Coin CEO, Fran Strajnar explains,
“There is still great disparity between exchanges and countries, diverging by as much as $1,000 US at any time”.
The listing will also integrate Nasdaq’s surveillance technology, which is purposely designed in a way to promote the transparency of price for crypto assets.
Strajnar further elaborates,
“ The Liquid Index (LX) program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today than it was back in 2015 when we started this program”.
Currently, Nasdaq supports over 4,000 global indices, and exactly like the Bitcoin and Ethereum Indexes, RLX Index will fully comply with regulations set by the International Organisation of Securities Commissions (IOSC), and will take into account multiple exchange prices, further guaranteeing trust in the indexes.