The Nasdaq Stock Exchange is considering launching bitcoin futures. This was announced by the CEO of the exchange Aden Friedman in Davos.
CEO Adena Friedman said to Bloomberg that Nasdaq is still considering a variant of launching the Bitcoin futures product.
During the interview at Bloomberg given to Erik Schatzker on the World Economic Forum in Davos, Nasdaq CEO Adena Friedman was discussing her LinkedIn post concerning” market economy”. She was also touching the cryptocurrency sphere, saying that Bitcoin futures are a viable option and that they have an unnamed partner helping to set everything up.
Two Main Reasons Nasdaq Will Consider Regarding Bitcoin Futures
After observing the market conditions, Nasdaq wants to bring up a viable solution that will be different from the competitors. This is a wise move, which is what good business gurus (like Guy Kawasaki, Richard Branson or Barry Feldman) typically advise to do. If you’re going to conquer some marker, make sure that your offer is substantially different from the ones given by the other ventures, shops, restaurants, crypto exchanges, etc.
The second major consideration is that the exchange has no certificate. They need to obtain the papers allowing them to be a futures exchange. And they want to do it via the current NFX license that is already in their possession. Friedman said that cryptocurrencies are not evil, that they could change society. She noted that cryptocurrencies have a deep impact on the global economy. Adena is unsure whether the blockchain hype will provoke something hardcore enough to facilitate large amounts of payments:
“DIGITAL CURRENCIES AND CRYPTOCURRENCIES WILL HAVE A ROLE IN THE GLOBAL ECONOMY. THE QUESTION IS WILL THEY MATURE TO A STATE THAT IS USED FOR THE TRANSFER OF GOODS.”
Strange that she says it in such away. Because many of the cryptocurrencies already transfer colossal amounts of goods from country to country. The WSJ was reporting in November 2017 that Nasdaq is working with Cantor Fitzgerald. They wanted to bring up the futures product. It supposed to arrive until the second half of 2018. But later, apparently, the investors ran away from the falling price of the still so volatile BTC. At the same time, many other firms came up with similar solutions, including the Intercontinental Exchange (ICE) and Chicago Mercantile Exchange, and won.
Therefore, if you happen to own some Bitcoins and you want to spend them online — download our digital payment wallet — XcelPay- crypto wallet that is empowered for both mobile and tablet use, makes sure that transferring and receiving payments in crypto is a secure process. XcelPay Wallet aims to cut out undesirable middlemen, bank/card transaction fees, currency conversion fees that produce a negative effect on the retailer’s and consumer’s margins. Consumers have the flexibility to store, send and receive cryptos from around the world. Our secure blockchain XcelPay Wallet offering users total peace of mind.