Fri, December 01, 2023

Nasdaq To Add New Indices for Its Blockchain Projects

PepsiCo and its performance

Recently, Nasdaq announced it would be adding a new index that will stay committed to blockchain projects in decentralized finance. This blockchain will be showcasing major digital coins such as Augur, Maker, and 0x.

A European investment services firm, EXANTE has been around since 2011. This company offers global multi-asset financial services. The partner is the stock exchange operator Nasdaq to provide the Decentralized Finance Index (DeFix).

DeFix is the leading index that signifies the real-time dynamics of six decentralized finance solutions.

The finance solutions consist of Augur, Gnosis, Amoveo, Numerai, Maker, and 0x.

It offers investors a prospect to contemplate a collection of platforms that has the ability to disrupt the financial industry.

Nasdaq will register the index under the ticker DEFX.

In addition, the offer for tracking the Nasdaq Global Index Data services (GIDS) is available. It also offers other financial platforms such as TradingView and Google.

Meanwhile, Yahoo Finance intends to list it soon.

This is not the first time Nasdaq is listing crypto-related indexes.

In February, the U.S. stock exchange via its data distribution relationship with Brave New Coin, it has added indices for Bitcoin and Ethereum.

These were the Bitcoin Liquid Index (BLX) and the Ethereum Liquid Index (ELX).

Partnership Revealed

Soon after, it contained the XRP Liquid Index (XRPLX) to deliver real-time data for the price of 1 XRP, quoted in USD.

Finally, Nasdaq’s Quandl platform declared a partnership with CryptoCompare to offer aggregate index datasets with up-to-date pricing data for the “most liquid” digital coin markets.

The co-founder and CEO at CryptoCompare, Charles Hayter, greeted the association by stating the following. “We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product.”

He also added, “reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, the granular dataset on a global institutional client base, via the Quandl platform. We will give traders and investors a competitive edge.”

At the moment, digital coins aren’t tradeable on the Nasdaq. Meanwhile, other well-known financial institutions are reportedly developing cryptocurrency trading platforms.

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According to a news report, Fidelity Investments is introducing a cryptocurrency trading service through Fidelity Digital Assets.

Moreover, Bakkt is a subsidiary of the Intercontinental Exchange (ICE) which holds the New York Stock Exchange. It is also set to implement the first physically settled Bitcoin futures contracts.

All of the futures will be released in the market in the next two weeks.

Overall, it seems like cryptocurrency mediums are definitively coming to the multitudes.


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