Nasdaq Is Tokenizing Its Platform And Trials Are Underway, Blockchain Product Manager Reveals
One of the most important financial companies in the world, Nasdaq, is on the way to tokenize its platform. At least that is what the Blockchain Product Manager of the company, Johan Toll, has affirmed. According to him, the company is set to not be left behind and trials are already being made with the blockchain technology.
Toll has affirmed that the fragmented nature and the intermediaries of the products which are offered by Nasdaq generally ended up slowly the transactions, which was not optimal. With the blockchain technology, however, outdated technologies can finally be abandoned forever and a new level of efficiency can be achieved.
In this new system which is being trialed right now, Toll affirms that the blockchain tech is being used in order to emit share issuance of stocks. The system is currently being tested in Sweden.
Nasdaq is currently the second largest exchange in the whole world and one of the most liquid markets ever, because of this, the technology will help the company to remain in front of the competition for a long time.
Bitcoin And Ethereum Indexes
Another blockchain-related innovation at Nasdaq is the arrival of Bitcoin and Ethereum indexes in the company. These new indices were launched recently in order to give more options for the people who were interested in the crypto market.
The official indices launched by the companies are important especially now that the U. S. Securities and Exchange Commission (SEC) is so interested in the Bitcoin exchange-traded fund (ETF) because they offer a regulated and trustworthy price index for these assets, which are very volatile.
Crypto traders are very happy with the new scenario that is slowly starting to be unveiled. Adoption for crypto assets is getting bigger and important companies like Nasdaq accepting these assets is a very important first step for the future.
Nasdaq And The Bitcoin ETF
While now people are talking a little bit less about the so awaited Bitcoin ETF, no crypto trader is completely able to forget about it. The ETF, which is a dream for the industry since 2018, is being voted by the SEC right now.
Last year, some projects for the ETF, including one from the Winklevoss brothers, which created the Gemini exchange, were rejected. The SEC is afraid of the impact of market manipulation and it still does not seem to sure about whether to approve the ETF or not.
As cryptos are still largely non-regulated in many parts of the world and several exchanges actually lack transparency, there were some important concerns. However, with Nasdaq slowly entering the game and promoting crypto adoption with its indices, things will possibly take a positive turn for the industry and the approval of the ETF in 2019 is not such a distant dream.
Nasdaq has what it takes to help the Bitcoin ETF. Now it is all a question of determining how fast the company will move and whether the SEC will approve the ETF this year or not.