Nasdaq partnership launched as scheduled, as Brave New Coin puts the finishing touches to a third index tracking Ripple’s XRP.
Nasdaq had begun live listings of two cryptocurrency price indices from United States blockchain and crypto market data company Brave New Coin (BNC), the latter confirmed in a post on Feb. 26.
Originally announced earlier this month, the integration of BNC’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) will open up new data for clients using Nasdaq’s Global Index Data Service (GIDS).
The move comes ahead of BNC’s plans to launch a separate index tracking the price of Ripple (XRP). The token launched on U.S. cryptocurrency exchange Coinbase Pro Tuesday, but it remains unknown whether Nasdaq will host the index, which is in the final stages of development.
“The LX [Liquid Index] program was born out of a need for clear and transparent price discovery of liquid cryptographic assets and is a bigger need today then it was back in 2015 when we started this program,” BNC CEO Fran Strajnar commented in the post.
As Cointelegraph reported, Nasdaq’s own suite of cryptocurrency-related technology products is seeing increasing popularity.
In particular, the company revealed last month that seven exchanges were using its market monitoring tool, which helps track illegal market activities taking place via order books.
CEO Adena Friedman has also publicly stated her belief in the long-term viability of servicing the cryptocurrency industry.