NYSE’s Parent Company Actively Developing Cryptocurrency Exchange
The Intercontinental Exchange (ICE) has been actively working on an online trading platform for Bitcoin, according to The New York Times.
According to emails and documents viewed by The New York Times, the Intercontinental Exchange – parent company of the New York Stock Exchange (NYSE) – has been developing a platform that would allow large retail and institutional investors to buy and hold Bitcoin. Exact details of the platform have not surfaced.
ICE has been actively working with other financial institutions to set up a Bitcoin contract, known as a swap contract. This entails a consumer buying the contract and owning Bitcoin the following day.
The news comes after multiple financial institutions on Wall Street have expressed interest in creating cryptocurrency offerings.
In April, Adena Friedman – CEO of Nasdaq –stated that the company is open to creating a cryptocurrency exchange, if regulatory issues are addressed.
Last week, banking giant Goldman Sachs announced the company’s Bitcoin trading desk.