Bitcoin US Start Responding to Serious
(Bloomberg) -- The biggest U.S. stock exchange operators
are taking steps to embrace bitcoin, spurring speculation the
digital currency is coming up from underground.
Nasdaq OMX Group Inc. revealed Tuesday that New York-based
Noble Markets, a platform for trading bitcoin, has agreed to
license Nasdaq’s X-stream technology. Noble is adopting the same
software used by securities exchanges around the world, and a
related system runs the Nasdaq Stock Market, one of the biggest
equity exchanges. The news follows the New York Stock Exchange’s
January agreement to invest in Coinbase, another platform for
trading the digital currency.
Markets for buying and selling bitcoin took a reputational
hit when one of the biggest, Mt. Gox, failed in 2014. Mt. Gox
filed for bankruptcy after discovering it had lost bitcoins
belonging to customers and itself. Deploying Nasdaq’s software
could give Noble greater legitimacy.
“It is a vote of confidence in bitcoin the technology,”
Nicholas Colas, chief market strategist at Convergex Group, said
in an interview. “Now that you are seeing big organizations
providing technology, there’s a feeling that bitcoin is here to
stay.”
While some bitcoin startups have recently built their own
trading technology, Nasdaq’s system has been battle-tested for
years. Nasdaq provides trading software to companies including
Japan Exchange Group Inc. and Singapore Exchange Ltd., which are
among the biggest market operators in the world.
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