The Owner Of The New York Stock Exchange Has Been Reportedly Working On A Bitcoin Exchange

The Owner Of The New York Stock Exchange Has Been Reportedly Working On A Bitcoin Exchange

  • ICE, the owner of the New York Stock Exchange, has been developing an online platform to buy cryptocurrency, a report from The New York Times found. 
  • The trading platform would “allow large investors to buy and hold bitcoin,” the report found. 
  • ICE first entered the crypto market via a crypto data feed, which went live in March.            

Intercontinental Exchange, the parent company of the New York Stock Exchange, has been developing an online platform to buy cryptocurrency, according to a report by The New York Times.

The move, which The New York Times first reported Monday citing documents and people familiar with the situation, is another example of a traditional Wall Street firm diving into the nascent market for digital coins.

Georgia-based Intercontinental Exchange, or ICE, first entered the market for digital currencies via a cryptocurrency data feed, which went live in March. Notably, Wall Street bank Goldman Sachs said it was working on a cryptocurrency trading desk earlier in April, The New York Times earlier reported. A slew of trading firms have been trading crypto, including Chicago-based HFTs such as DRW and Jump Trading.

As per The New York Times report, the potential crypto platform by ICE would “allow large investors to buy and hold bitcoin.”

The exchange operator, according to the report, has also explored swaps, another financial instrument, which would be linked to bitcoin.

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