The New York Stock Exchange is working on its own bitcoin trading platform. According to a new report from The New York Times, Intercontinental Exchange (ICE), the parent company of NYSE, reportedly plans to offer traders a swap contract that will allow customers to get their hands on Bitcoin the following day, along with the backing and stamp of approval of the exchange.
This type of contract brings further legitimacy to the transaction because it puts the trading under the oversight and regulation of the Commodity Futures Trading Commission.
The report further goes to say that currently, the details of the trading platform have been kept confidential and absolutely under wraps, as the ICE spokesperson refused to comment anything about the launch of the trading platform.
But the report further goes to say that with the growing concerns of the Bitcoin’s negative reputation in traditional finance, it is quite possible that the launch of the trading platform could be stalled for the moment.
Moreover, the Intercontinental Exchange will be discussing with other financial institutions on working to make ICE-backed BTC swap contracts available to the banking institutions, but still, nothing remains sure at the moment.
This move signifies a greater acceptance on Wall Street. It turns out that some of the financial power brokers are demanding access to Bitcoin, a digital currency that has remained divisive for years. After Goldman Sachs decided to start its own operation of bitcoin trading, other equally powerful entities have been keeping with up with the trend.
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