Sprecher says Digital Currency has a Strong Future

The digital currencies are already surviving in a great way in the form of an asset class and it was further put on a positive light as shed by Jeffrey Sprecher, the chairman of New York Stock Exchange and the CEO of Intercontinental Exchange. Sprecher, on seeing questions raised on the fate of the digital assets, mentions that the digital currencies are bound to survive as an asset class and the “unequivocal answer is yes”.

Bakkt is a cryptocurrency platform and is under the Intercontinental Exchange. The company is looking forward to a successful launch by the following year. Kelly Loeffler, the CEO of Bakkt has stated that the company will put forward contracts which will help the traders of the BitCoin market creating a trusted price in a regulated manner. Currently BitCoin market is trading in an unregulated fashion on various exchanges at a different price.

Both the firms of NYSE and ICE has illustrated an advanced planning for the cryptocurrencies where ICE has established a partnership with Blockstream to put forward a regulated price information of BTC for the investors of Wall Street and has also planned to gather data from major exchanges for the huge financial entities, in January. Moreover, ICE has also planned where they will be offering traders contracts which might result in the owning of BTC by the customers.

Ex-CEO of NYSE, Duncan Niederauer, pairing up with Galaxy Digital, a crypto-merchant bank; BTIG, a global financial services firm; Paxos, a fintech firm; and GSR, a crypto liquidity solutions provider, have joined hands in founding the Association for Digital Asset Markets for the establishment of a code of conduct for the sector of cryptocurrency.