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Ripple (XRP) RLX indices on Nasdaq are in sight

NASDAQ_Ripple_XRP

Brave New Coin is in the final stages of producing the Ripple Liquid Index – RLX, cryptocurrency data and research company revealed on Tuesday, while also confirming Nasdaq lisitng of BLX and ELX indices for Bitcoin and Ethereum.

Ripple has enjoyed a deluge of positive news over the past few days, while its XRP cryptocurrency token has been duking it out with Ethereum and Bitcoin to claim its listing spot on Nasdaq, the Brave New Coin report confirmed today.

“BNC is in the final stages of producing the RLX (Ripple Liquid Index) and is working with a range of market participants to create custom basket indices. XRP was today listed on Coinbase Pro, which many view as a form of institutional endorsement for the asset as Coinbase Pro is a leading global exchange that serves high-end traders and investors,” the company revealed in a press release.

The company also quoted its CEO, Fran Strajnar, saying, “The LX 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.”

In the last few days, Ripple has stolen headlines across the web, when crypto exchange, Coinbase, announced that it will add XRP token to the Coinbase Pro trading platform. Brave New Coin acknowledged the possibility that financial data from Coinbase Pro may be used to produce Ripple Liquid Index, RLX, in the near future.

“Currently Coinbase Pro isn’t part of the constituents of the global price of XRP but given enough trading volume on the exchange it could become part of the RLX,” the company reaffirmed today.

Fran Strajnar, the CEO of BNC, proudly said that BNC indices has had its methodology independently audited against key IOSCO (International Organisation of Securities Commissions) principles. He then continued to explain, saying, “BNC endorses the IOSCO principles and fully embraces the IOSCO’s goals of addressing the obvious conflicts of interest in the benchmark-setting process, which the nascent crypto industry is vulnerable to.”

“The crypto derivative wave is inevitable. Once custody was solved, first with Fidelity’s announcements last November, and now with indices that align with IOSCO principles being available through the Nasdaq, there’s going to be a rush to produce all manner of financial instruments, which the institutional users have been asking for, for almost 3 years now,” the CEO concluded.

Ripple, led by the CEO, Brad Garlinghouse, is at the forefront of fintech development in the incredibly profitable cross-border payment space. The deep connections between Ripple and major financial institutions, such as American Express, Santander or Standard Chartered, mean it is likely to retain its enviable position as the bridge between the brave new world of cryptocurrency and the staid old world of traditional finance.

Whenever crypto finance critics, like Warren Buffett, cast doubt on the long-term potential of something within the blockchain space, they typically point to a lack of real utility underlying the value of digital assets. However, it’s clear that central banks and major financial institutions recognize Ripple has incredible utility value.

Although the specific date of when Ripple RLX indices will be listed on Nasdaq is under wraps, it’s only a matter of time before one of the world’s leading stock exchanges will make a big announcement.

About Mantas Malukas

Mantas is the founder of Dapp Life, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.

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