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The North American interest in Bitcoin technology has reached the major trading venues and top multinational exchanges as NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) has agreed to provide New York startup Noble Markets with core technology to power its new marketplace which facilitates Bitcoin and other digital currency assets to be traded by commercial and institutional investors.
This represents yet another leap toward the mainstream for Bitcoin, the technology behind which has been supported by vast venture capital investments and national regulatory approval over the last year as it is viewed by the technological innovators and avantgarde investors as being an instrumental medium in driving modernity and introducing methodology into financial markets.
A report yesterday by the Wall Street Journal provided a corporate statement that Noble’s platform will use Nasdaq’s X-stream trading system, a high-tech system for matching market participants’ orders that is used by more than 30 exchanges and marketplaces worldwide. Nasdaq will also provide marketing support.
Should Bitcoin trading become a staple part of NASDAQ’s infrastructure, this could represent a ‘Concorde moment’ for virtual currency.
Concorde, the supersonic passenger aircraft which first took to the skies in 1968 shrank the world, reducing transatlantic journey times to less than a third of that achievable by other aircraft of the time, using aviation technology which has never since been employed, even after the last Concorde aircraft was decommissioned in 2003.
Bitcoin’s recognition by worldwide regulators and investors following a previous year of dissent, uncertainty and volatile price fluctuations has propelled the virtual currency into this position, which now could make it a major asset on a major global exchange, without any rivals in its class whatsoever, hence its complete contrast to traditional asset classes, and the emphasis on the importance of the technology behind it, therefore placing as a Concorde among currencies.
In an interview, Noble Chief Executive John Betts said he believes Nasdaq’s involvement will help dispel investors’ concerns about the risks of trading in digital currencies. “They can say, ‘These are sophisticated organizations; they have done their due diligence, and if it’s good enough for them, it’s good enough for us.”
Early 2015 has been a period of increased interest by large investors in Bitcoin technology, with 21 Inc having received a $116 million round of funding in March, and CoinBase being the subject of a $75 million investment in …..
New York has carved itself out as a Bitcoin center, a dynamic partly attributable to New York State Superintendent of Financial Services Benjamin Lawsky having introduced the BitLicence regulatory framework last year, paving the way for North America’s highly advanced financial markets infrastructure to provide the runway for the borderless virtual currency’s propulsion into the future.