U.S. Exchanges Carve a Niche in Crypto | Is This a Good Thing?

U.S. Exchanges Carve a Niche in Crypto

U.S. exchanges carve a niche in crypto: Some have said the conventional finance world needs to start engaging with the cryptocurrency sector more. If they don’t, they’ll get left behind. However, it appears the majority of the traditional finance world already agrees with this belief. This is has been made apparent due to numerous United States exchanges carving their niche in the crypto space. 

In this article, we will be examining four exchanges, looking to see how each has carved a niche in crypto. The question that should remain at hand throughout this article is whether or not these large exchanges being involved in crypto is a good thing or not.

U.S. Exchanges Carve a Niche in Crypto 

The first exchange we will be looking at is the Nasdaq Exchange. Today, Nasdaq announced that it partnered with the Gemini Trust Company. Under the terms of the agreement, Nasdaq will provide the Winklevoss twins’ company market surveillance technology. As a result, it appears the niche that Nasdaq decided to carve in crypto is market surveillance. 

Meanwhile, the ICE is heavily involved in data. On the ICE Consolidated Feed, individuals are eligible to access real-time and historical data for the most actively traded cryptocurrencies. Further, ICE is working with Blockstream to offer consumers multi-asset, multi-venue data from crypto exchanges across the globe. 

Further, the Cboe offers exchange-traded funds, listings, and futures. On December 10, the Cboe Futures Exchanges LLC (CFE) launched trading in Cboe bitcoin futures. This brings numerous benefits to traders, who are, for instance, looking for efficient price discovery and deep liquidity and centralized clearing. Last but not least, CME has carved a niche in crypto by being involved in futures. 

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It is a logical move on both the part of Nasdaq and ICE to monetize their current platforms without having to commit to the asset class. In the meantime, Cboe appears to be leading the charge on that front. 

What do you think? Do you think the conventional financial world should be more involved in the crypto community? Let me know below.

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