Why Nasdaq’s Real-Time Crypto Data Portal Might Soon List Ripple

Why Nasdaq’s Real-Time Crypto Data Portal Might Soon List Ripple

Yesterday, the world’s third-largest cryptocurrency jumped 12% higher after Coinbase confirmed it would list XRP on its Coinbase Pro platform.

Now there’s an XRP index in the works, and there’s a good chance it will be listed on the Nasdaq, the world’s second-biggest stock exchange.

On February 25, Nasdaq launched the long-awaited bitcoin and ethereum indexes on its platform.

The indexes, powered by Brave New Coin, aim to provide a stable, accurate spot price for the cryptocurrencies. The listing on Nasdaq is a huge step forward for the crypto industry and a nod of approval from Wall Street.

Hidden in yesterday’s announcement, Brave New Coin confirmed that it was in the “final stages” of launching a Ripple Liquid Index. With Nasdaq already on board as a partner, it seems inevitable that the XRP index listing will follow.

Traders have mostly brushed over the launch of crypto indexes on Nasdaq, but it’s a huge development.

As CCN previously reported, the approval of crypto indexes could fast-track approval of bitcoin investment products, like a bitcoin ETF. The Bitcoin and Ethereum Liquidity Indexes (BLX and ELX, respectively) will bring price transparency and stability to the market. As Brave New Coin’s CEO explains:

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“There is still great price disparity between exchanges and countries, diverging by as much as US$1,000 at any time.”

The indexes on Nasdaq will fix this by creating a composite price from multiple exchanges. The listing will also integrate Nasdaq’s surveillance technology to help identify and stamp out price manipulation.
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