Is Nasdaq the future a cryptocurrency exchange? Officially announced the addition of the Ripple Coin (XRP) Liquidity Index

Nasdaq, the stock exchange operator, has added a new cryptocurrency index – this time the world's third-largest cryptocurrency, XRP.

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Image source: pixabay

NASDAQ announced on Monday that it will provide "real-time" index information for XRP from May 1st through cooperation with New Zealand blockchain data and research company Brave New Coin.

Specifically, the XRP Liquidity Index (XRPLX) will provide a spot or reference exchange rate for the price of XRP, denominated in US dollars, and “based on the most liquid end of its market”.

Brave New Coin said in another statement: “XRPLX only gets data from the most liquid exchanges (calculated by volume and order depth).”

"Currently XRPLX member exchanges include Bitfinex, Bitstamp, Poloniex and Kraken, and Coinbase data will be added in the next evaluation."

The new data stream will be available on the NASDAQ Global Index Data Service (GIDS), a comprehensive data feed for NASDAQ. Nasdaq said that the index contains data since 2014 and is updated every five minutes.

The company added that the index was calculated according to the “independent audit” approach of the International Organization of Securities Commissions (IOSCO).

Nasdaq partnered with Brave New Coin for the first time earlier this year to include Bitcoin (BTC) and Ethereum (ETH) indices in its global data services.

Last month, Nasdaq also began offering two benchmark indices covering the top 200 cryptocurrencies with one market value—one containing bitcoin and the other without bitcoin—using data from CoinMarketCap.

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