The strategic significance of Ripple XRP login to NASDAQ

Nasdaq can be called a witness to the Internet industry. It has witnessed the miracle of wealth growth created by technology companies such as Microsoft, Apple, and Amazon. It also witnessed the evaporation of 3 trillion US dollars after the bursting of the Internet bubble, and the collapse of nearly 100 companies. Nasdaq, who is happy to embrace new technologies, is eyeing the emerging digital currency.

According to Coincryptorama, after four months of negotiations, Ripple's token XRP will be the first digital currency listed on the NASDAQ encryption platform in 2019. Nasdaq insiders said that Nasdaq’s focus is on the scalability of digital currency. The latest data shows that the XRP, which has emerged as the second largest digital currency, has an important market advantage of up to $110 billion.

In addition, Ripple's management team and its operational standards in the banking industry also meet all Nasdaq requirements and standards. Is Ripple's cooperation with Nasdaq the beginning of a formal integration between the emerging world and the traditional capital market? In fact, Nasdaq has long been "coveted" for the encrypted digital currency market. As early as 2015, NASDAQ has begun to apply blockchain technology. It has developed Linq, an equity trading platform based on blockchain technology, and ChainCore, a blockchain payment processing platform. Nasdaq is also concerned about the response to potential risks in the cryptocurrency market.

The Nasdaq report on digital asset monitoring pointed out that many investors are discouraged because of potential hacking attacks, fraud, and market manipulation in the digital currency market. However, investors are currently unable to judge whether they are market manipulation activities through statistical techniques and data aggregation. In order to solve this problem, Nasdaq cooperated with Gemini, a cryptocurrency trading platform, and launched SMARTS market surveillance technology.

In addition to the technical aspects, Nasnaq has also worked with blockchain companies. As early as April this year, Nasdaq CEO Adena Friedman said that he had a plan to set up a digital crypto exchange. Finally, in September of this year, Nasdaq acquired Cinnober, a Swedish trading and real-time clearing technology provider, for US$190 million. Friedman said in an interview: "This acquisition will enhance our ability to serve the global market infrastructure operators and will accelerate our ability to expand into new growth areas." Cinnober, a veteran financial technology provider, in 2015 Only then entered the field of cryptocurrency and became a partner with a Swedish regulated digital currency exchange.

        The encryption hosting service and multi-signature technology developed by Cinnober effectively solve the trust problem of the hosting service. Although Nasdaq began to lay out in many areas of the cryptocurrency market, the market has not responded much. The most important reason is that the SEC's supervision has been pending. As early as the beginning of this year, some institutional investors predicted that they would introduce relevant regulations at the end of this year.

However, there is still no clear legal regulation. This is also the reason why Nasdaq is good and there is no big fluctuation in the digital currency market. Forbes comment also said that most investors believe that the SEC's supervision will be more stringent, and the uncertainty of regulatory risk will make investors less willing to enter. The use of XRP tokens is limited to RPRple's xRapid. Their flagship product, xCurrent, is similar to SWIFT and can help banks make fast and cheap cross-border settlements. Almost all organizations in Ripple's announced 100+ financial institution partners have chosen xCurrent products.

The news that the XRP coins were listed on the NASDAQ cryptocurrency trading platform brought a long-lost advantage to the currency circle. Ripple chose to work with Nasdaq to attract more institutional investors and attract professional institutional investors.

Article classification: NEWS
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