Bitcoin Forum
June 16, 2019, 05:58:09 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2018-09-17]Nasdaq is Acquiring Crypto-Friendly Swedish Exchange  (Read 33 times)
vit05
Hero Member
*****
Offline Offline

Activity: 672
Merit: 523



View Profile
September 17, 2018, 05:06:22 PM
 #1

CCN

Nasdaq, the world’s second-largest stock exchange, announced Friday that it is in the works to acquire Cinnober, a trading solution provider based in Sweden.

Cinnober has a history for bullishness towards digital assets and making it easier for institutions to invest in them. One of those efforts is the partnership with BitGo, a behemoth for institutional-grade cryptocurrency custody security. BitGo itself has built partnerships and acquisitions over its history, which have helped it firm up its mission, including the acquisition of Kingdom Trust and a partnership with the South Korea exchange Korbit.

Nasdaq: More Prepping for Cryptocurrency Trading?
Nasdaq’s latest acquisition highlights, though indirectly in this case, its taste for cryptocurrency trading. As CCN reported, on the heels of the SEC’s second rejection for the Winklevoss twins’ ETF, the Nasdaq held a closed-door meeting with cryptocurrency industry experts. In the meeting, participants discussed ways to legitimize cryptocurrencies as a traditional securities product, especially in ways to appease the fickle SEC.

Cinnober’s BitGo platform is well-suited for large institutional investors in Nasdaq. The multi-signature security and custody solution with BitGo has made it one of the most popular in the space. Nasdaq’s release points to their interest in Cinnober’s success in offering newer asset types. Adena Friedman, President and CEO, Nasdaq, said:

“The combined intellectual capital, technology competence and capabilities of Cinnober and our Market Technology business will expand the breadth and depth of our fastest growing division at Nasdaq. Not only have the global capital markets continued to evolve rapidly, new marketplaces in various industries are demanding market technology infrastructure that enables rapid growth and scale as well as access to tools to promote market integrity. This acquisition will enhance our ability to serve market infrastructure operators worldwide, and will accelerate our ability to expand into new growth segments.”

Cinnober has developed in-house solutions and technology acquisitions that make it a prime candidate for the tech-heavy Nasdaq Corporation. Cinnober’s cryptocurrency custodian service, in specific, could be one of the most coveted arms of the acquisition, as questions over custodianship have made many institutional investors leery.

Household names in finance are racing to developer regulated and clearly audited custodian solutions, including Citigroup and Bank of America.
1560664689
Hero Member
*
Offline Offline

Posts: 1560664689

View Profile Personal Message (Offline)

Ignore
1560664689
Reply with quote  #2

1560664689
Report to moderator
1560664689
Hero Member
*
Offline Offline

Posts: 1560664689

View Profile Personal Message (Offline)

Ignore
1560664689
Reply with quote  #2

1560664689
Report to moderator

0% MINING FEES FOR THE NEXT MONTH. GET PAID IN BTC, ETH, XMR or RVN.

www.cudominer.com Learn More
Easily run CudoOS from a USB flash drive.
Designed for rigs. Manage your mining remotely from Cudo Console.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1560664689
Hero Member
*
Offline Offline

Posts: 1560664689

View Profile Personal Message (Offline)

Ignore
1560664689
Reply with quote  #2

1560664689
Report to moderator
squatter
Hero Member
*****
Offline Offline

Activity: 1120
Merit: 794


STOP SNITCHIN'


View Profile
September 17, 2018, 05:55:58 PM
 #2

Cinnober has a history for bullishness towards digital assets and making it easier for institutions to invest in them. One of those efforts is the partnership with BitGo, a behemoth for institutional-grade cryptocurrency custody security.

As CCN reported, on the heels of the SEC’s second rejection for the Winklevoss twins’ ETF, the Nasdaq held a closed-door meeting with cryptocurrency industry experts. In the meeting, participants discussed ways to legitimize cryptocurrencies as a traditional securities product, especially in ways to appease the fickle SEC.

Cinnober’s BitGo platform is well-suited for large institutional investors in Nasdaq. The multi-signature security and custody solution with BitGo has made it one of the most popular in the space. Nasdaq’s release points to their interest in Cinnober’s success in offering newer asset types.

With so many potential products in the pipeline -- Citi's DARs, the ETFs, BAKKT, Bank of America moving into cryptocurrency custody, and now Nasdaq entering the fray -- it's obvious there's going to be a regulated Bitcoin securities market.

This acquisition sounds promising, though I'm sure it'll be a while before we see anything approved and launched.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!