- Nasdaq via a partnership with Brave New Coin is set to offer the XRP index on GIDS.
- The price will be quoted in US dollars and will be updated every 30 seconds.
- The listing of XRP is a huge step forward and a nod of approval from institutional investors which dominate trade on the platform.
Leading US-based stock exchange Nasdaq is integrating Ripple (XRP) liquid index into its Global Index Data Service (GIDS). The Index will offer real-time price updates on the 3rd largest digital asset by market cap for clients using Nasdaq’s GIDS.
Made in partnership with the Auckland-based blockchain and digital data start-up, Brave New Coin, the XRP Liquid Index will be available starting May 1, showing users real-time information for XRP. The price information will be quoted in USD and will be refreshed every 30 seconds. This will assist investors in trading decisions.
“The XRPLX sources data from only the most liquid exchanges by volume and order-book depth,” Brave New Coin said in a statement.
The XRPLX will join dozens of other mainstream indices on GIDS, which monitors twenty different index series covering several commodities, equities, and so forth. The listing of XRP is a huge step forward and a nod of approval from Wall Street. The Ripple community also saw this as a leap forward in mainstream acceptance and adoption of XRP.
The Nasdaq is the world’s second-largest stock company by market cap, behind the New York Stock Exchange (NYSE). Thousands of companies are listed on the platform, which claims a total market capitalization of an eye-watering 10 trillion USD. The company has been very active in the cryptocurrency space and has already added indices for Bitcoin (BTC) and Ethereum (ETH).
Ripple (XRP) is expected to benefit from the company’s extensive reach. And acceptance of XRP by Wall Street firms which dominate trade on Nasdaq is a significant step toward increasing crypto adoption.